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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 2023

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The tax information provided here is based on 2025 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 $360,000,000 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, Oct 6, 2023
Jackpot:$360,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,418,517$1,961,871$582,491$2,874,155
2$5,689,443$2,062,114$611,615$3,015,713
3$5,973,915$2,167,369$642,196$3,164,350
4$6,272,610$2,277,886$674,306$3,320,419
5$6,586,241$2,393,929$708,021$3,484,291
6$6,915,553$2,515,775$743,422$3,656,356
7$7,261,331$2,643,713$780,593$3,837,025
8$7,624,397$2,778,047$819,623$4,026,727
9$8,005,617$2,919,099$860,604$4,225,915
10$8,405,898$3,067,202$903,634$4,435,061
11$8,826,193$3,222,712$948,816$4,654,665
12$9,267,502$3,385,996$996,256$4,885,250
13$9,730,877$3,557,445$1,046,069$5,127,363
14$10,217,421$3,737,466$1,098,373$5,381,582
15$10,728,292$3,926,488$1,153,291$5,648,512
16$11,264,707$4,124,962$1,210,956$5,928,789
17$11,827,942$4,333,359$1,271,504$6,223,080
18$12,419,339$4,552,176$1,335,079$6,532,085
19$13,040,306$4,781,934$1,401,833$6,856,540
20$13,692,322$5,023,179$1,471,925$7,197,218
21$14,376,938$5,276,487$1,545,521$7,554,930
22$15,095,785$5,542,461$1,622,797$7,930,527
23$15,850,574$5,821,733$1,703,937$8,324,905
24$16,643,102$6,114,968$1,789,134$8,739,001
25$17,475,258$6,422,866$1,878,590$9,173,802
26$18,349,021$6,746,158$1,972,520$9,630,343
27$19,266,472$7,085,615$2,071,146$10,109,711
28$20,229,795$7,442,044$2,174,703$10,613,048
29$21,241,285$7,816,296$2,283,438$11,141,551
30$22,303,349$8,209,259$2,397,610$11,696,480
Total$360,000,001$131,910,609$38,700,003$189,389,394

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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.