USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $1,337,000,000 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, Jul 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,403,982$2,163,305$10,556,481
2$21,129,957$7,776,272$2,271,470$11,082,215
3$22,186,455$8,167,176$2,385,044$11,634,235
4$23,295,778$8,577,626$2,504,296$12,213,856
5$24,460,566$9,008,597$2,629,511$12,822,458
6$25,683,595$9,461,118$2,760,986$13,461,491
7$26,967,775$9,936,265$2,899,036$14,132,475
8$28,316,164$10,435,168$3,043,988$14,837,008
9$29,731,972$10,959,017$3,196,187$15,576,768
10$31,218,570$11,509,059$3,355,996$16,353,515
11$32,779,499$12,086,602$3,523,796$17,169,101
12$34,418,474$12,693,023$3,699,986$18,025,465
13$36,139,397$13,329,765$3,884,985$18,924,647
14$37,946,368$13,998,344$4,079,235$19,868,789
15$39,843,686$14,700,351$4,283,196$20,860,138
16$41,835,870$15,437,460$4,497,356$21,901,055
17$43,927,663$16,211,423$4,722,224$22,994,016
18$46,124,047$17,024,085$4,958,335$24,141,627
19$48,430,249$17,877,380$5,206,252$25,346,617
20$50,851,761$18,773,340$5,466,564$26,611,858
21$53,394,349$19,714,097$5,739,893$27,940,360
22$56,064,067$20,701,892$6,026,887$29,335,287
23$58,867,270$21,739,078$6,328,232$30,799,961
24$61,810,633$22,828,122$6,644,643$32,337,868
25$64,901,165$23,971,619$6,976,875$33,952,671
26$68,146,224$25,172,291$7,325,719$35,648,214
27$71,553,535$26,432,996$7,692,005$37,428,534
28$75,131,211$27,756,736$8,076,605$39,297,870
29$78,887,772$29,146,663$8,480,435$41,260,673
30$82,832,161$30,606,087$8,904,457$43,321,616
Total$1,337,000,003$493,435,634$143,727,499$699,836,869

◄ Back to Jackpot Analysis

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.