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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 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 $101,000,000 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, Sep 5, 2023
Jackpot:$101,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,520,195$520,660$163,421$836,114
2$1,596,205$548,783$171,592$875,829
3$1,676,015$578,313$180,172$917,530
4$1,759,816$609,320$189,180$961,316
5$1,847,806$641,876$198,639$1,007,291
6$1,940,197$676,061$208,571$1,055,565
7$2,037,207$711,954$219,000$1,106,253
8$2,139,067$749,643$229,950$1,159,475
9$2,246,020$789,215$241,447$1,215,358
10$2,358,321$830,767$253,520$1,274,035
11$2,476,237$874,396$266,196$1,335,646
12$2,600,049$920,206$279,505$1,400,338
13$2,730,052$968,307$293,481$1,468,264
14$2,866,554$1,018,813$308,155$1,539,587
15$3,009,882$1,071,844$323,562$1,614,476
16$3,160,376$1,127,527$339,740$1,693,109
17$3,318,395$1,185,994$356,727$1,775,674
18$3,484,315$1,247,384$374,564$1,862,367
19$3,658,530$1,311,844$393,292$1,953,394
20$3,841,457$1,379,527$412,957$2,048,973
21$4,033,530$1,450,594$433,604$2,149,332
22$4,235,206$1,525,214$455,285$2,254,708
23$4,446,967$1,603,565$478,049$2,365,352
24$4,669,315$1,685,834$501,951$2,481,529
25$4,902,781$1,772,217$527,049$2,603,515
26$5,147,920$1,862,918$553,401$2,731,600
27$5,405,316$1,958,155$581,071$2,866,090
28$5,675,581$2,058,153$610,125$3,007,304
29$5,959,360$2,163,151$640,631$3,155,578
30$6,257,329$2,273,399$672,663$3,311,266
Total$101,000,000$36,115,634$10,857,500$54,026,868

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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.