USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 8.82%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$26,551$194,574
2$316,080$85,172$27,878$203,030
3$331,884$90,704$29,272$211,908
4$348,478$96,512$30,736$221,231
5$365,902$102,610$32,273$231,020
6$384,197$109,013$33,886$241,298
7$403,407$115,737$35,581$252,090
8$423,578$122,796$37,360$263,422
9$444,757$130,209$39,228$275,320
10$466,994$137,992$41,189$287,813
11$490,344$146,165$43,248$300,931
12$514,861$154,746$45,411$314,705
13$540,604$164,096$47,681$328,827
14$567,635$174,097$50,065$343,472
15$596,016$184,598$52,569$358,849
16$625,817$195,625$55,197$374,995
17$657,108$207,202$57,957$391,949
18$689,963$219,359$60,855$409,750
19$724,461$232,123$63,898$428,441
20$760,685$245,526$67,092$448,067
21$798,719$259,598$70,447$468,674
22$838,655$274,374$73,969$490,311
23$880,587$289,890$77,668$513,030
24$924,617$306,180$81,551$536,885
25$970,848$323,286$85,629$561,933
26$1,019,390$341,247$89,910$588,233
27$1,070,360$360,105$94,406$615,849
28$1,123,878$379,907$99,126$644,845
29$1,180,071$400,699$104,082$675,290
30$1,239,075$422,530$109,286$707,259
Total$20,000,000$6,352,002$1,764,001$11,884,001

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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.