USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Sep 26, 2014

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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 $93,000,000 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, Sep 26, 2014
Jackpot:$93,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,399,783$480,875$152,576$766,332
2$1,469,773$506,771$160,205$802,797
3$1,543,261$533,962$168,215$841,084
4$1,620,424$562,512$176,626$881,286
5$1,701,446$592,490$185,458$923,498
6$1,786,518$623,967$194,730$967,821
7$1,875,844$657,017$204,467$1,014,360
8$1,969,636$691,720$214,690$1,063,225
9$2,068,118$728,159$225,425$1,114,534
10$2,171,524$766,419$236,696$1,168,409
11$2,280,100$806,592$248,531$1,224,977
12$2,394,105$848,774$260,957$1,284,374
13$2,513,810$893,065$274,005$1,346,740
14$2,639,501$939,570$287,706$1,412,225
15$2,771,476$988,401$302,091$1,480,984
16$2,910,049$1,039,673$317,195$1,553,181
17$3,055,552$1,093,509$333,055$1,628,987
18$3,208,329$1,150,037$349,708$1,708,585
19$3,368,746$1,209,391$367,193$1,792,162
20$3,537,183$1,271,713$385,553$1,879,917
21$3,714,042$1,337,151$404,831$1,972,061
22$3,899,744$1,405,860$425,072$2,068,812
23$4,094,732$1,478,006$446,326$2,170,400
24$4,299,468$1,553,758$468,642$2,277,068
25$4,514,442$1,633,298$492,074$2,389,069
26$4,740,164$1,716,816$516,678$2,506,670
27$4,977,172$1,804,509$542,512$2,630,152
28$5,226,030$1,896,586$569,637$2,759,807
29$5,487,332$1,993,268$598,119$2,895,945
30$5,761,699$2,094,783$628,025$3,038,890
Total$93,000,000$33,298,652$10,136,998$49,564,352

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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.