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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $162,000,000 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, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$262,121$1,315,841
2$2,560,249$905,480$275,227$1,379,542
3$2,688,262$952,845$288,988$1,446,429
4$2,822,675$1,002,577$303,438$1,516,660
5$2,963,808$1,054,797$318,609$1,590,402
6$3,111,999$1,109,627$334,540$1,667,832
7$3,267,599$1,167,199$351,267$1,749,133
8$3,430,979$1,227,650$368,830$1,834,499
9$3,602,528$1,291,123$387,272$1,924,133
10$3,782,654$1,357,770$406,635$2,018,249
11$3,971,787$1,427,749$426,967$2,117,071
12$4,170,376$1,501,227$448,315$2,220,834
13$4,378,895$1,578,379$470,731$2,329,785
14$4,597,840$1,659,388$494,268$2,444,183
15$4,827,732$1,744,448$518,981$2,564,302
16$5,069,118$1,833,761$544,930$2,690,427
17$5,322,574$1,927,540$572,177$2,822,857
18$5,588,703$2,026,008$600,786$2,961,909
19$5,868,138$2,129,399$630,825$3,107,914
20$6,161,545$2,237,959$662,366$3,261,219
21$6,469,622$2,351,948$695,484$3,422,190
22$6,793,103$2,471,636$730,259$3,591,209
23$7,132,758$2,597,308$766,772$3,768,678
24$7,489,396$2,729,264$805,110$3,955,022
25$7,863,866$2,867,818$845,366$4,150,682
26$8,257,059$3,013,300$887,634$4,356,126
27$8,669,912$3,166,055$932,016$4,571,841
28$9,103,408$3,326,449$978,616$4,798,343
29$9,558,578$3,494,862$1,027,547$5,036,169
30$10,036,507$3,671,695$1,078,925$5,285,887
Total$162,000,000$58,685,632$17,415,002$85,899,368

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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.