USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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The tax information provided here is based on 2025 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 $105,000,000 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:Tue, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$541,768$172,264$866,369
2$1,659,421$571,006$180,877$907,538
3$1,742,392$601,705$189,921$950,766
4$1,829,511$633,939$199,417$996,155
5$1,920,987$667,785$209,388$1,043,814
6$2,017,036$703,324$219,857$1,093,856
7$2,117,888$740,639$230,850$1,146,399
8$2,223,783$779,820$242,392$1,201,570
9$2,334,972$820,960$254,512$1,259,500
10$2,451,720$864,157$267,237$1,320,326
11$2,574,306$909,514$280,599$1,384,193
12$2,703,022$957,138$294,629$1,451,254
13$2,838,173$1,007,144$309,361$1,521,668
14$2,980,081$1,059,650$324,829$1,595,602
15$3,129,085$1,114,782$341,070$1,673,233
16$3,285,540$1,172,670$358,124$1,754,746
17$3,449,816$1,233,452$376,030$1,840,334
18$3,622,307$1,297,274$394,831$1,930,202
19$3,803,423$1,364,287$414,573$2,024,563
20$3,993,594$1,434,650$435,302$2,123,642
21$4,193,273$1,508,531$457,067$2,227,675
22$4,402,937$1,586,107$479,920$2,336,910
23$4,623,084$1,667,561$503,916$2,451,607
24$4,854,238$1,753,088$529,112$2,572,038
25$5,096,950$1,842,892$555,568$2,698,491
26$5,351,798$1,937,185$583,346$2,831,266
27$5,619,388$2,036,194$612,513$2,970,681
28$5,900,357$2,140,152$643,139$3,117,066
29$6,195,375$2,249,309$675,296$3,270,770
30$6,505,144$2,363,923$709,061$3,432,160
Total$105,000,000$37,560,606$11,445,001$55,994,394

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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.