USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 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 $47,000,000 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:Tue, Jan 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$77,109$405,609
2$742,788$237,787$80,964$424,038
3$779,928$251,528$85,012$443,387
4$818,924$265,957$89,263$463,704
5$859,870$281,107$93,726$485,037
6$902,864$297,015$98,412$507,437
7$948,007$313,718$103,333$530,957
8$995,407$331,256$108,499$555,652
9$1,045,178$349,671$113,924$581,583
10$1,097,437$369,007$119,621$608,809
11$1,152,308$389,309$125,602$637,398
12$1,209,924$410,627$131,882$667,415
13$1,270,420$433,010$138,476$698,934
14$1,333,941$456,513$145,400$732,028
15$1,400,638$481,191$152,670$766,777
16$1,470,670$507,103$160,303$803,264
17$1,544,204$534,310$168,318$841,575
18$1,621,414$562,878$176,734$881,802
19$1,702,484$592,874$185,571$924,039
20$1,787,609$624,370$194,849$968,389
21$1,876,989$657,441$204,592$1,014,956
22$1,970,839$692,165$214,821$1,063,852
23$2,069,380$728,626$225,562$1,115,192
24$2,172,849$766,909$236,841$1,169,100
25$2,281,492$807,107$248,683$1,225,702
26$2,395,567$849,315$261,117$1,285,135
27$2,515,345$893,633$274,173$1,347,540
28$2,641,112$940,166$287,881$1,413,064
29$2,773,168$989,027$302,275$1,481,865
30$2,911,826$1,040,331$317,389$1,554,106
Total$47,000,000$16,278,650$5,123,002$25,598,346

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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.