USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jan 11, 2013

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The tax information provided here is based on 2022 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 $55,000,000 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 prize money, as well as deductions claimed.

State:

New York

Drawing Date:Fri, Jan 11, 2013
Jackpot:$55,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$269,252$90,233$468,344
2$869,220$284,567$94,745$489,909
3$912,681$300,647$99,482$512,552
4$958,315$317,532$104,456$536,327
5$1,006,231$335,261$109,679$561,291
6$1,056,543$353,876$115,163$587,504
7$1,109,370$373,422$120,921$615,027
8$1,164,838$393,945$126,967$643,926
9$1,223,080$415,495$133,316$674,270
10$1,284,234$438,122$139,982$706,131
11$1,348,446$461,880$146,981$739,585
12$1,415,868$486,826$154,330$774,712
13$1,486,662$513,020$162,046$811,596
14$1,560,995$540,523$170,148$850,323
15$1,639,045$569,402$178,656$890,987
16$1,720,997$599,724$187,589$933,684
17$1,807,047$631,562$196,968$978,516
18$1,897,399$664,993$206,816$1,025,590
19$1,992,269$700,095$217,157$1,075,017
20$2,091,882$736,952$228,015$1,126,916
21$2,196,477$775,651$239,416$1,181,409
22$2,306,300$816,286$251,387$1,238,628
23$2,421,615$858,953$263,956$1,298,707
24$2,542,696$903,753$277,154$1,361,790
25$2,669,831$950,792$291,012$1,428,027
26$2,803,323$1,000,184$305,562$1,497,576
27$2,943,489$1,052,046$320,840$1,570,603
28$3,090,663$1,106,500$336,882$1,647,280
29$3,245,196$1,163,678$353,726$1,727,792
30$3,407,456$1,223,714$371,413$1,812,330
Total$55,000,000$19,238,653$5,994,998$29,766,349

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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.