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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 1, 2021

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The tax information provided here is based on 2024 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 $401,000,000 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 money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Fri, Jan 1, 2021
Jackpot:$401,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,035,625$2,191,369$648,830$3,195,427
2$6,337,407$2,303,028$681,271$3,353,107
3$6,654,277$2,420,270$715,335$3,518,672
4$6,986,991$2,543,374$751,102$3,692,515
5$7,336,340$2,672,634$788,657$3,875,050
6$7,703,157$2,808,356$828,089$4,066,712
7$8,088,316$2,950,865$869,494$4,267,957
8$8,492,731$3,100,498$912,969$4,479,264
9$8,917,368$3,257,614$958,617$4,701,137
10$9,363,236$3,422,585$1,006,548$4,934,103
11$9,831,398$3,595,805$1,056,875$5,178,718
12$10,322,968$3,777,686$1,109,719$5,435,563
13$10,839,116$3,968,661$1,165,205$5,705,250
14$11,381,072$4,169,184$1,223,465$5,988,422
15$11,950,126$4,379,734$1,284,639$6,285,753
16$12,547,632$4,600,812$1,348,870$6,597,950
17$13,175,013$4,832,943$1,416,314$6,925,757
18$13,833,764$5,076,680$1,487,130$7,269,954
19$14,525,452$5,332,605$1,561,486$7,631,361
20$15,251,725$5,601,326$1,639,560$8,010,839
21$16,014,311$5,883,483$1,721,538$8,409,290
22$16,815,027$6,179,748$1,807,615$8,827,664
23$17,655,778$6,490,826$1,897,996$9,266,956
24$18,538,567$6,817,457$1,992,896$9,728,213
25$19,465,495$7,160,421$2,092,541$10,212,533
26$20,438,770$7,520,533$2,197,168$10,721,070
27$21,460,709$7,898,650$2,307,026$11,255,033
28$22,533,744$8,295,673$2,422,377$11,815,693
29$23,660,431$8,712,547$2,543,496$12,404,388
30$24,843,453$9,150,265$2,670,671$13,022,516
Total$401,000,001$147,115,632$43,107,499$210,776,867

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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.