USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 2020

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2021 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $188,000,000 for a ticket purchased in New Jersey, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Fri, Nov 20, 2020
Jackpot:$188,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,829,670$1,011,050$304,190$1,514,430
2$2,971,153$1,063,399$319,399$1,588,355
3$3,119,711$1,118,365$335,369$1,665,977
4$3,275,697$1,176,080$352,137$1,747,479
5$3,439,481$1,236,680$369,744$1,833,057
6$3,611,455$1,300,311$388,231$1,922,913
7$3,792,028$1,367,123$407,643$2,017,263
8$3,981,630$1,437,275$428,025$2,116,329
9$4,180,711$1,510,935$449,426$2,220,349
10$4,389,747$1,588,278$471,898$2,329,570
11$4,609,234$1,669,489$495,493$2,444,253
12$4,839,696$1,754,760$520,267$2,564,669
13$5,081,680$1,844,294$546,281$2,691,106
14$5,335,764$1,938,305$573,595$2,823,865
15$5,602,553$2,037,017$602,274$2,963,262
16$5,882,680$2,140,664$632,388$3,109,628
17$6,176,814$2,249,494$664,008$3,263,313
18$6,485,655$2,363,765$697,208$3,424,682
19$6,809,938$2,483,749$732,068$3,594,120
20$7,150,435$2,609,733$768,672$3,772,030
21$7,507,956$2,742,016$807,105$3,958,835
22$7,883,354$2,880,913$847,461$4,154,980
23$8,277,522$3,026,755$889,834$4,360,933
24$8,691,398$3,179,889$934,325$4,577,183
25$9,125,968$3,340,680$981,042$4,804,246
26$9,582,266$3,509,511$1,030,094$5,042,662
27$10,061,380$3,686,783$1,081,598$5,292,999
28$10,564,449$3,872,918$1,135,678$5,555,852
29$11,092,671$4,068,361$1,192,462$5,831,848
30$11,647,305$4,273,575$1,252,085$6,121,644
Total$188,000,000$68,482,167$20,210,000$99,307,832

◄ Back to Jackpot Analysis

Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.