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New Jersey Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

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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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$543,658$2,678,358
2$5,310,146$1,928,826$570,841$2,810,479
3$5,575,654$2,027,064$599,383$2,949,207
4$5,854,436$2,130,214$629,352$3,094,871
5$6,147,158$2,238,521$660,819$3,247,818
6$6,454,516$2,352,243$693,860$3,408,412
7$6,777,242$2,471,652$728,554$3,577,037
8$7,116,104$2,597,031$764,981$3,754,092
9$7,471,909$2,728,679$803,230$3,940,000
10$7,845,505$2,866,909$843,392$4,135,204
11$8,237,780$3,012,051$885,561$4,340,168
12$8,649,669$3,164,450$929,839$4,555,380
13$9,082,152$3,324,469$976,331$4,781,352
14$9,536,260$3,492,488$1,025,148$5,018,624
15$10,013,073$3,668,909$1,076,405$5,267,758
16$10,513,727$3,854,151$1,130,226$5,529,350
17$11,039,413$4,048,655$1,186,737$5,804,021
18$11,591,383$4,252,884$1,246,074$6,092,426
19$12,170,953$4,467,325$1,308,377$6,395,250
20$12,779,500$4,692,487$1,373,796$6,713,217
21$13,418,475$4,928,908$1,442,486$7,047,081
22$14,089,399$5,177,150$1,514,610$7,397,639
23$14,793,869$5,437,804$1,590,341$7,765,724
24$15,533,562$5,711,490$1,669,858$8,152,214
25$16,310,240$5,998,861$1,753,351$8,558,028
26$17,125,753$6,300,601$1,841,018$8,984,134
27$17,982,040$6,617,427$1,933,069$9,431,544
28$18,881,142$6,950,095$2,029,723$9,901,324
29$19,825,199$7,299,396$2,131,209$10,394,594
30$20,816,459$7,666,162$2,237,769$10,912,528
Total$336,000,001$123,242,169$36,119,998$176,637,834

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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.