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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 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 $830,000,000 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, Jul 26, 2022
Jackpot:$830,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,492,691$4,585,251$1,342,964$6,564,476
2$13,117,326$4,816,366$1,410,113$6,890,848
3$13,773,192$5,059,036$1,480,618$7,233,538
4$14,461,852$5,313,840$1,554,649$7,593,363
5$15,184,944$5,581,384$1,632,381$7,971,178
6$15,944,191$5,862,306$1,714,001$8,367,885
7$16,741,401$6,157,273$1,799,701$8,784,427
8$17,578,471$6,466,989$1,889,686$9,221,796
9$18,457,395$6,792,191$1,984,170$9,681,034
10$19,380,264$7,133,653$2,083,378$10,163,233
11$20,349,278$7,492,188$2,187,547$10,669,543
12$21,366,741$7,868,649$2,296,925$11,201,167
13$22,435,078$8,263,934$2,411,771$11,759,373
14$23,556,833$8,678,983$2,532,360$12,345,490
15$24,734,674$9,114,784$2,658,977$12,960,912
16$25,971,408$9,572,376$2,791,926$13,607,106
17$27,269,978$10,052,847$2,931,523$14,285,608
18$28,633,477$10,557,341$3,078,099$14,998,037
19$30,065,151$11,087,061$3,232,004$15,746,086
20$31,568,408$11,643,266$3,393,604$16,531,538
21$33,146,829$12,227,282$3,563,284$17,356,263
22$34,804,170$12,840,498$3,741,448$18,222,224
23$36,544,379$13,484,375$3,928,521$19,131,483
24$38,371,597$14,160,446$4,124,947$20,086,205
25$40,290,177$14,870,321$4,331,194$21,088,663
26$42,304,687$15,615,689$4,547,754$22,141,244
27$44,419,921$16,398,326$4,775,141$23,246,454
28$46,640,916$17,220,094$5,013,898$24,406,924
29$48,972,962$18,082,951$5,264,593$25,625,418
30$51,421,611$18,988,951$5,527,823$26,904,837
Total$830,000,002$305,988,651$89,225,000$434,786,353

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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.