USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 2020

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The tax information provided here is based on 2021 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 $188,000,000 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 prize money, as well as deductions claimed.

State:

New York

Drawing Date:Fri, Nov 20, 2020
Jackpot:$188,000,000
Federal Tax:37% marginal rate
State Tax: 8.82%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,829,670$1,011,050$249,577$1,569,043
2$2,971,153$1,063,399$262,056$1,645,699
3$3,119,711$1,118,365$275,159$1,726,187
4$3,275,697$1,176,080$288,916$1,810,700
5$3,439,481$1,236,680$303,362$1,899,439
6$3,611,455$1,300,311$318,530$1,992,614
7$3,792,028$1,367,123$334,457$2,090,449
8$3,981,630$1,437,275$351,180$2,193,175
9$4,180,711$1,510,935$368,739$2,301,037
10$4,389,747$1,588,278$387,176$2,414,292
11$4,609,234$1,669,489$406,534$2,533,211
12$4,839,696$1,754,760$426,861$2,658,075
13$5,081,680$1,844,294$448,204$2,789,182
14$5,335,764$1,938,305$470,614$2,926,845
15$5,602,553$2,037,017$494,145$3,071,391
16$5,882,680$2,140,664$518,852$3,223,164
17$6,176,814$2,249,494$544,795$3,382,526
18$6,485,655$2,363,765$572,035$3,549,856
19$6,809,938$2,483,749$600,637$3,725,552
20$7,150,435$2,609,733$630,668$3,910,033
21$7,507,956$2,742,016$662,202$4,103,738
22$7,883,354$2,880,913$695,312$4,307,129
23$8,277,522$3,026,755$730,077$4,520,689
24$8,691,398$3,179,889$766,581$4,744,927
25$9,125,968$3,340,680$804,910$4,980,377
26$9,582,266$3,509,511$845,156$5,227,600
27$10,061,380$3,686,783$887,414$5,487,183
28$10,564,449$3,872,918$931,784$5,759,746
29$11,092,671$4,068,361$978,374$6,045,937
30$11,647,305$4,273,575$1,027,292$6,346,437
Total$188,000,000$68,482,167$16,581,599$102,936,233

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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.