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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 2022

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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 $429,000,000 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:Fri, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,352,069$694,135$3,410,862
2$6,779,919$2,471,525$728,841$3,579,553
3$7,118,915$2,596,953$765,283$3,756,678
4$7,474,861$2,728,654$803,548$3,942,660
5$7,848,603$2,866,938$843,725$4,137,940
6$8,241,034$3,012,138$885,911$4,342,985
7$8,653,086$3,164,597$930,207$4,558,282
8$9,085,740$3,324,679$976,717$4,784,344
9$9,540,027$3,492,765$1,025,553$5,021,709
10$10,017,028$3,669,255$1,076,831$5,270,942
11$10,517,880$3,854,570$1,130,672$5,532,637
12$11,043,774$4,049,151$1,187,206$5,807,417
13$11,595,962$4,253,461$1,246,566$6,095,935
14$12,175,760$4,467,986$1,308,894$6,398,880
15$12,784,548$4,693,238$1,374,339$6,716,972
16$13,423,776$4,929,752$1,443,056$7,050,968
17$14,094,964$5,178,092$1,515,209$7,401,664
18$14,799,713$5,438,849$1,590,969$7,769,895
19$15,539,698$5,712,643$1,670,518$8,156,537
20$16,316,683$6,000,128$1,754,043$8,562,512
21$17,132,517$6,301,986$1,841,746$8,988,785
22$17,989,143$6,618,938$1,933,833$9,436,372
23$18,888,601$6,951,737$2,030,525$9,906,339
24$19,833,030$7,301,176$2,132,051$10,399,803
25$20,824,682$7,668,087$2,238,653$10,917,941
26$21,865,916$8,053,344$2,350,586$11,461,986
27$22,959,212$8,457,863$2,468,115$12,033,233
28$24,107,172$8,882,609$2,591,521$12,633,043
29$25,312,531$9,328,592$2,721,097$13,262,843
30$26,578,158$9,796,873$2,857,152$13,924,132
Total$429,000,001$157,618,648$46,117,502$225,263,849

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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.