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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Aug 6, 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 $374,000,000 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, Aug 6, 2024
Jackpot:$374,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,629,237$2,041,005$605,143$2,983,088
2$5,910,699$2,145,146$635,400$3,130,152
3$6,206,233$2,254,494$667,170$3,284,569
4$6,516,545$2,369,310$700,529$3,446,707
5$6,842,372$2,489,865$735,555$3,616,952
6$7,184,491$2,616,449$772,333$3,795,709
7$7,543,716$2,749,363$810,949$3,983,404
8$7,920,901$2,888,921$851,497$4,180,483
9$8,316,947$3,035,458$894,072$4,387,417
10$8,732,794$3,189,321$938,775$4,604,697
11$9,169,434$3,350,878$985,714$4,832,841
12$9,627,905$3,520,513$1,035,000$5,072,393
13$10,109,300$3,698,629$1,086,750$5,323,922
14$10,614,766$3,885,651$1,141,087$5,588,027
15$11,145,504$4,082,024$1,198,142$5,865,338
16$11,702,779$4,288,216$1,258,049$6,156,514
17$12,287,918$4,504,717$1,320,951$6,462,249
18$12,902,314$4,732,044$1,386,999$6,783,271
19$13,547,429$4,970,737$1,456,349$7,120,344
20$14,224,801$5,221,364$1,529,166$7,474,271
21$14,936,041$5,484,523$1,605,624$7,845,894
22$15,682,843$5,760,840$1,685,906$8,236,098
23$16,466,985$6,050,972$1,770,201$8,645,812
24$17,290,334$6,355,611$1,858,711$9,076,012
25$18,154,851$6,675,483$1,951,646$9,527,722
26$19,062,594$7,011,347$2,049,229$10,002,017
27$20,015,723$7,364,005$2,151,690$10,500,028
28$21,016,509$7,734,296$2,259,275$11,022,938
29$22,067,335$8,123,102$2,372,238$11,571,995
30$23,170,702$8,531,347$2,490,850$12,148,504
Total$374,000,001$137,125,631$40,205,000$196,669,368

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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.