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 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 $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$542,936$172,264$865,201
2$1,659,421$572,173$180,877$906,370
3$1,742,392$602,873$189,921$949,598
4$1,829,511$635,107$199,417$994,988
5$1,920,987$668,953$209,388$1,042,646
6$2,017,036$704,491$219,857$1,092,688
7$2,117,888$741,806$230,850$1,145,232
8$2,223,783$780,987$242,392$1,200,403
9$2,334,972$822,127$254,512$1,258,332
10$2,451,720$865,324$267,237$1,319,158
11$2,574,306$910,681$280,599$1,383,026
12$2,703,022$958,306$294,629$1,450,086
13$2,838,173$1,008,312$309,361$1,520,500
14$2,980,081$1,060,818$324,829$1,594,435
15$3,129,085$1,115,949$341,070$1,672,066
16$3,285,540$1,173,837$358,124$1,753,578
17$3,449,816$1,234,620$376,030$1,839,167
18$3,622,307$1,298,441$394,831$1,929,034
19$3,803,423$1,365,454$414,573$2,023,395
20$3,993,594$1,435,817$435,302$2,122,475
21$4,193,273$1,509,699$457,067$2,226,508
22$4,402,937$1,587,275$479,920$2,335,743
23$4,623,084$1,668,729$503,916$2,450,439
24$4,854,238$1,754,256$529,112$2,570,870
25$5,096,950$1,844,059$555,568$2,697,323
26$5,351,798$1,938,353$583,346$2,830,099
27$5,619,388$2,037,361$612,513$2,969,513
28$5,900,357$2,141,320$643,139$3,115,898
29$6,195,375$2,250,476$675,296$3,269,602
30$6,505,144$2,365,091$709,061$3,430,992
Total$105,000,000$37,595,631$11,445,001$55,959,365

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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.