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 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 $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$476,108$152,576$771,099
2$1,469,773$502,004$160,205$807,564
3$1,543,261$529,194$168,215$845,851
4$1,620,424$557,745$176,626$886,053
5$1,701,446$587,723$185,458$928,265
6$1,786,518$619,199$194,730$972,588
7$1,875,844$652,250$204,467$1,019,127
8$1,969,636$686,953$214,690$1,067,993
9$2,068,118$723,391$225,425$1,119,302
10$2,171,524$761,651$236,696$1,173,176
11$2,280,100$801,825$248,531$1,229,744
12$2,394,105$844,007$260,957$1,289,141
13$2,513,810$888,297$274,005$1,351,507
14$2,639,501$934,803$287,706$1,416,992
15$2,771,476$983,634$302,091$1,485,751
16$2,910,049$1,034,906$317,195$1,557,948
17$3,055,552$1,088,742$333,055$1,633,755
18$3,208,329$1,145,270$349,708$1,713,352
19$3,368,746$1,204,624$367,193$1,796,929
20$3,537,183$1,266,946$385,553$1,884,685
21$3,714,042$1,332,383$404,831$1,976,828
22$3,899,744$1,401,093$425,072$2,073,579
23$4,094,732$1,473,238$446,326$2,175,167
24$4,299,468$1,548,991$468,642$2,281,835
25$4,514,442$1,628,531$492,074$2,393,836
26$4,740,164$1,712,048$516,678$2,511,438
27$4,977,172$1,799,741$542,512$2,634,919
28$5,226,030$1,891,819$569,637$2,764,574
29$5,487,332$1,988,501$598,119$2,900,712
30$5,761,699$2,090,016$628,025$3,043,657
Total$93,000,000$33,155,633$10,136,998$49,707,367

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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.