USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 12, 2021

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 $625,000,000 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:Tue, Jan 12, 2021
Jackpot:$625,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,407,147$3,444,717$1,011,268$4,951,162
2$9,877,504$3,618,749$1,061,832$5,196,924
3$10,371,379$3,801,483$1,114,923$5,454,973
4$10,889,949$3,993,353$1,170,669$5,725,926
5$11,434,446$4,194,817$1,229,203$6,010,426
6$12,006,168$4,406,354$1,290,663$6,309,151
7$12,606,477$4,628,469$1,355,196$6,622,812
8$13,236,801$4,861,688$1,422,956$6,952,156
9$13,898,641$5,106,569$1,494,104$7,297,967
10$14,593,573$5,363,694$1,568,809$7,661,069
11$15,323,251$5,633,675$1,647,250$8,042,327
12$16,089,414$5,917,155$1,729,612$8,442,646
13$16,893,884$6,214,809$1,816,093$8,862,982
14$17,738,579$6,527,346$1,906,897$9,304,335
15$18,625,508$6,855,510$2,002,242$9,767,755
16$19,556,783$7,200,082$2,102,354$10,254,347
17$20,534,622$7,561,882$2,207,472$10,765,268
18$21,561,353$7,941,773$2,317,845$11,301,735
19$22,639,421$8,340,658$2,433,738$11,865,025
20$23,771,392$8,759,487$2,555,425$12,456,480
21$24,959,961$9,199,258$2,683,196$13,077,508
22$26,207,959$9,661,017$2,817,356$13,729,587
23$27,518,358$10,145,865$2,958,223$14,414,270
24$28,894,275$10,654,954$3,106,135$15,133,186
25$30,338,989$11,189,498$3,261,441$15,888,049
26$31,855,939$11,750,770$3,424,513$16,680,656
27$33,448,736$12,340,104$3,595,739$17,512,892
28$35,121,172$12,958,906$3,775,526$18,386,740
29$36,877,231$13,608,648$3,964,302$19,304,281
30$38,721,093$14,290,876$4,162,517$20,267,699
Total$625,000,001$230,172,166$67,187,499$327,640,334

◄ 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.