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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Dec 13, 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 $400,000,000 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, Dec 13, 2022
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$647,212$3,187,562
2$6,321,603$2,297,181$679,572$3,344,850
3$6,637,683$2,414,130$713,551$3,510,002
4$6,969,567$2,536,928$749,228$3,683,411
5$7,318,045$2,665,864$786,690$3,865,491
6$7,683,948$2,801,248$826,024$4,056,675
7$8,068,145$2,943,401$867,326$4,257,418
8$8,471,552$3,092,662$910,692$4,468,198
9$8,895,130$3,249,386$956,226$4,689,518
10$9,339,886$3,413,946$1,004,038$4,921,903
11$9,806,881$3,586,734$1,054,240$5,165,907
12$10,297,225$3,768,161$1,106,952$5,422,112
13$10,812,086$3,958,660$1,162,299$5,691,127
14$11,352,690$4,158,683$1,220,414$5,973,593
15$11,920,325$4,368,708$1,281,435$6,270,182
16$12,516,341$4,589,234$1,345,507$6,581,601
17$13,142,158$4,820,786$1,412,782$6,908,590
18$13,799,266$5,063,916$1,483,421$7,251,929
19$14,489,229$5,319,203$1,557,592$7,612,435
20$15,213,691$5,587,253$1,635,472$7,990,966
21$15,974,375$5,868,707$1,717,245$8,388,423
22$16,773,094$6,164,233$1,803,108$8,805,754
23$17,611,749$6,474,535$1,893,263$9,243,951
24$18,492,336$6,800,352$1,987,926$9,704,058
25$19,416,953$7,142,460$2,087,322$10,187,170
26$20,387,801$7,501,674$2,191,689$10,694,438
27$21,407,191$7,878,848$2,301,273$11,227,069
28$22,477,550$8,274,881$2,416,337$11,786,332
29$23,601,428$8,690,716$2,537,153$12,373,558
30$24,781,499$9,127,342$2,664,011$12,990,146
Total$400,000,001$146,745,632$43,000,000$210,254,369

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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.