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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Oct 1, 2024

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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 $93,000,000 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, Oct 1, 2024
Jackpot:$93,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,399,783$476,108$150,477$773,199
2$1,469,773$502,004$158,001$809,768
3$1,543,261$529,194$165,901$848,166
4$1,620,424$557,745$174,196$888,484
5$1,701,446$587,723$182,905$930,818
6$1,786,518$619,199$192,051$975,268
7$1,875,844$652,250$201,653$1,021,941
8$1,969,636$686,953$211,736$1,070,947
9$2,068,118$723,391$222,323$1,122,404
10$2,171,524$761,651$233,439$1,176,433
11$2,280,100$801,825$245,111$1,233,164
12$2,394,105$844,007$257,366$1,292,732
13$2,513,810$888,297$270,235$1,355,278
14$2,639,501$934,803$283,746$1,420,951
15$2,771,476$983,634$297,934$1,489,908
16$2,910,049$1,034,906$312,830$1,562,313
17$3,055,552$1,088,742$328,472$1,638,338
18$3,208,329$1,145,270$344,895$1,718,164
19$3,368,746$1,204,624$362,140$1,801,982
20$3,537,183$1,266,946$380,247$1,889,990
21$3,714,042$1,332,383$399,260$1,982,399
22$3,899,744$1,401,093$419,223$2,079,429
23$4,094,732$1,473,238$440,184$2,181,310
24$4,299,468$1,548,991$462,193$2,288,284
25$4,514,442$1,628,531$485,302$2,400,608
26$4,740,164$1,712,048$509,568$2,518,548
27$4,977,172$1,799,741$535,046$2,642,385
28$5,226,030$1,891,819$561,798$2,772,413
29$5,487,332$1,988,501$589,888$2,908,943
30$5,761,699$2,090,016$619,383$3,052,300
Total$93,000,000$33,155,633$9,997,503$49,846,867

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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.