USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jun 3, 2005

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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 $106,000,000 for a ticket purchased in New York, 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 York

Drawing Date:Fri, Jun 3, 2005
Jackpot:$106,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,595,452$548,505$173,904$873,043
2$1,675,225$578,021$182,599$914,604
3$1,758,986$609,013$191,729$958,244
4$1,846,935$641,554$201,316$1,004,066
5$1,939,282$675,722$211,382$1,052,178
6$2,036,246$711,599$221,951$1,102,696
7$2,138,058$749,269$233,048$1,155,741
8$2,244,961$788,823$244,701$1,211,437
9$2,357,209$830,355$256,936$1,269,918
10$2,475,070$873,964$269,783$1,331,324
11$2,598,823$919,752$283,272$1,395,799
12$2,728,765$967,831$297,435$1,463,499
13$2,865,203$1,018,313$312,307$1,534,583
14$3,008,463$1,071,319$327,922$1,609,221
15$3,158,886$1,126,976$344,319$1,687,592
16$3,316,830$1,185,415$361,535$1,769,881
17$3,482,672$1,246,776$379,611$1,856,284
18$3,656,805$1,311,206$398,592$1,947,008
19$3,839,646$1,378,857$418,521$2,042,268
20$4,031,628$1,449,890$439,447$2,142,290
21$4,233,209$1,524,475$461,420$2,247,314
22$4,444,870$1,602,790$484,491$2,357,589
23$4,667,113$1,685,020$508,715$2,473,378
24$4,900,469$1,771,361$534,151$2,594,957
25$5,145,492$1,862,020$560,859$2,722,614
26$5,402,767$1,957,212$588,902$2,856,654
27$5,672,906$2,057,163$618,347$2,997,396
28$5,956,551$2,162,112$649,264$3,145,175
29$6,254,378$2,272,308$681,727$3,300,343
30$6,567,097$2,388,014$715,814$3,463,270
Total$106,000,000$37,965,635$11,554,000$56,480,366

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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.