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New Jersey Mega Millions Jackpot Annuity Payout Schedule for May 21, 2021

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The tax information provided here is based on 2022 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 $516,000,000 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 21, 2021
Jackpot:$516,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,766,540$2,836,575$834,903$4,095,062
2$8,154,868$2,980,256$876,648$4,297,963
3$8,562,611$3,131,121$920,481$4,511,009
4$8,990,742$3,289,529$966,505$4,734,708
5$9,440,278$3,455,858$1,014,830$4,969,590
6$9,912,292$3,630,503$1,065,571$5,216,218
7$10,407,907$3,813,881$1,118,850$5,475,177
8$10,928,303$4,006,427$1,174,793$5,747,083
9$11,474,718$4,208,601$1,233,532$6,032,585
10$12,048,453$4,420,883$1,295,209$6,332,362
11$12,650,876$4,643,779$1,359,969$6,647,128
12$13,283,420$4,877,820$1,427,968$6,977,632
13$13,947,591$5,123,564$1,499,366$7,324,661
14$14,644,971$5,381,594$1,574,334$7,689,042
15$15,377,219$5,652,526$1,653,051$8,071,642
16$16,146,080$5,937,005$1,735,704$8,473,372
17$16,953,384$6,235,707$1,822,489$8,895,188
18$17,801,053$6,549,345$1,913,613$9,338,095
19$18,691,106$6,878,664$2,009,294$9,803,148
20$19,625,661$7,224,450$2,109,759$10,291,453
21$20,606,944$7,587,524$2,215,246$10,804,173
22$21,637,291$7,968,753$2,326,009$11,342,530
23$22,719,156$8,369,043$2,442,309$11,907,804
24$23,855,113$8,789,347$2,564,425$12,501,342
25$25,047,869$9,230,667$2,692,646$13,124,557
26$26,300,263$9,694,052$2,827,278$13,778,932
27$27,615,276$10,180,607$2,968,642$14,466,027
28$28,996,040$10,691,490$3,117,074$15,187,476
29$30,445,842$11,227,916$3,272,928$15,944,997
30$31,968,134$11,791,165$3,436,574$16,740,395
Total$516,000,001$189,808,652$55,470,000$270,721,351

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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.