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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 10, 2023

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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 $1,100,000,000 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, Jan 10, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$1,779,832$8,692,625
2$17,384,408$6,390,419$1,868,824$9,125,165
3$18,253,628$6,712,030$1,962,265$9,579,333
4$19,166,310$7,049,722$2,060,378$10,056,209
5$20,124,624$7,404,299$2,163,397$10,556,928
6$21,130,856$7,776,604$2,271,567$11,082,684
7$22,187,399$8,167,525$2,385,145$11,634,728
8$23,296,769$8,577,992$2,504,403$12,214,374
9$24,461,608$9,008,983$2,629,623$12,823,002
10$25,684,688$9,461,522$2,761,104$13,462,062
11$26,968,922$9,936,689$2,899,159$14,133,074
12$28,317,368$10,435,614$3,044,117$14,837,637
13$29,733,237$10,959,485$3,196,323$15,577,428
14$31,219,899$11,509,550$3,356,139$16,354,209
15$32,780,893$12,087,118$3,523,946$17,169,829
16$34,419,938$12,693,565$3,700,143$18,026,230
17$36,140,935$13,330,334$3,885,150$18,925,451
18$37,947,982$13,998,941$4,079,408$19,869,633
19$39,845,380$14,700,978$4,283,378$20,861,023
20$41,837,650$15,438,118$4,497,547$21,901,984
21$43,929,532$16,212,115$4,722,425$22,994,993
22$46,126,009$17,024,811$4,958,546$24,142,652
23$48,432,309$17,878,142$5,206,473$25,347,694
24$50,853,924$18,774,140$5,466,797$26,612,988
25$53,396,620$19,714,937$5,740,137$27,941,546
26$56,066,452$20,702,775$6,027,144$29,336,534
27$58,869,775$21,740,004$6,328,501$30,801,270
28$61,813,263$22,829,095$6,644,926$32,339,242
29$64,903,926$23,972,640$6,977,172$33,954,114
30$68,149,123$25,173,363$7,326,031$35,649,729
Total$1,100,000,002$405,745,632$118,250,000$576,004,370

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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.