USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Oct 23, 2018

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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 $1,537,000,000 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, Oct 23, 2018
Jackpot:$1,537,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$23,134,056$8,517,788$2,521,612$12,094,655
2$24,290,759$8,945,768$2,647,693$12,697,298
3$25,505,296$9,395,147$2,780,077$13,330,072
4$26,780,562$9,866,996$2,919,081$13,994,485
5$28,119,589$10,362,436$3,065,035$14,692,118
6$29,525,569$10,882,648$3,218,287$15,424,634
7$31,001,848$11,428,871$3,379,201$16,193,775
8$32,551,940$12,002,406$3,548,161$17,001,373
9$34,179,537$12,604,616$3,725,570$17,849,351
10$35,888,513$13,236,938$3,911,848$18,739,728
11$37,682,939$13,900,875$4,107,440$19,674,624
12$39,567,086$14,598,010$4,312,812$20,656,264
13$41,545,440$15,330,001$4,528,453$21,686,987
14$43,622,713$16,098,592$4,754,876$22,769,246
15$45,803,848$16,905,612$4,992,619$23,905,617
16$48,094,041$17,752,983$5,242,250$25,098,808
17$50,498,742$18,642,722$5,504,363$26,351,657
18$53,023,680$19,576,949$5,779,581$27,667,149
19$55,674,863$20,557,887$6,068,560$29,048,416
20$58,458,607$21,587,872$6,371,988$30,498,746
21$61,381,537$22,669,356$6,690,588$32,021,593
22$64,450,614$23,804,915$7,025,117$33,620,582
23$67,673,145$24,997,251$7,376,373$35,299,521
24$71,056,801$26,249,204$7,745,191$37,062,406
25$74,609,641$27,563,755$8,132,451$38,913,435
26$78,340,125$28,944,034$8,539,074$40,857,017
27$82,257,131$30,393,326$8,966,027$42,897,777
28$86,369,986$31,915,083$9,414,328$45,040,575
29$90,688,486$33,512,927$9,885,045$47,290,513
30$95,222,911$35,190,665$10,379,297$49,652,949
Total$1,537,000,003$567,435,633$167,532,998$802,031,371

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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.