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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Nov 22, 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 $259,000,000 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, Nov 22, 2022
Jackpot:$259,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,898,322$1,400,567$419,070$2,078,685
2$4,093,238$1,472,686$440,023$2,180,529
3$4,297,900$1,548,411$462,024$2,287,465
4$4,512,795$1,627,922$485,125$2,399,748
5$4,738,434$1,711,408$509,382$2,517,644
6$4,975,356$1,799,069$534,851$2,641,436
7$5,224,124$1,891,114$561,593$2,771,417
8$5,485,330$1,987,760$589,673$2,907,897
9$5,759,597$2,089,239$619,157$3,051,202
10$6,047,576$2,195,791$650,114$3,201,671
11$6,349,955$2,307,671$682,620$3,359,664
12$6,667,453$2,425,145$716,751$3,525,556
13$7,000,826$2,548,493$752,589$3,699,744
14$7,350,867$2,678,009$790,218$3,882,640
15$7,718,410$2,814,000$829,729$4,074,682
16$8,104,331$2,956,790$871,216$4,276,325
17$8,509,547$3,106,720$914,776$4,488,051
18$8,935,025$3,264,147$960,515$4,710,363
19$9,381,776$3,429,445$1,008,541$4,943,790
20$9,850,865$3,603,008$1,058,968$5,188,889
21$10,343,408$3,785,249$1,111,916$5,446,243
22$10,860,578$3,976,602$1,167,512$5,716,464
23$11,403,607$4,177,522$1,225,888$6,000,197
24$11,973,788$4,388,489$1,287,182$6,298,116
25$12,572,477$4,610,004$1,351,541$6,610,931
26$13,201,101$4,842,595$1,419,118$6,939,388
27$13,861,156$5,086,815$1,490,074$7,284,266
28$14,554,214$5,343,247$1,564,578$7,646,389
29$15,281,924$5,612,500$1,642,807$8,026,618
30$16,046,021$5,895,215$1,724,947$8,425,858
Total$259,000,001$94,575,633$27,842,498$136,581,868

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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.