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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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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 $45,000,000 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:Tue, Oct 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$72,811$395,709
2$711,180$221,324$76,452$413,404
3$746,739$234,481$80,274$431,984
4$784,076$248,296$84,288$451,492
5$823,280$262,801$88,503$471,976
6$864,444$278,032$92,928$493,484
7$907,666$294,024$97,574$516,068
8$953,050$310,816$102,453$539,781
9$1,000,702$328,448$107,575$564,679
10$1,050,737$346,961$112,954$590,822
11$1,103,274$366,399$118,602$618,273
12$1,158,438$386,810$124,532$647,096
13$1,216,360$408,241$130,759$677,360
14$1,277,178$430,743$137,297$709,138
15$1,341,037$454,371$144,161$742,504
16$1,408,088$479,180$151,370$777,538
17$1,478,493$505,230$158,938$814,325
18$1,552,417$532,582$166,885$852,950
19$1,630,038$561,302$175,229$893,507
20$1,711,540$591,458$183,991$936,092
21$1,797,117$623,121$193,190$980,806
22$1,886,973$656,368$202,850$1,027,756
23$1,981,322$691,277$212,992$1,077,053
24$2,080,388$727,931$223,642$1,128,815
25$2,184,407$766,418$234,824$1,183,165
26$2,293,628$806,830$246,565$1,240,233
27$2,408,309$849,262$258,893$1,300,154
28$2,528,724$893,816$271,838$1,363,071
29$2,655,161$940,597$285,430$1,429,134
30$2,787,919$989,718$299,701$1,498,500
Total$45,000,000$15,395,631$4,837,501$24,766,869

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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.