USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for May 29, 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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 9.62%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$486,511$2,735,505
2$5,310,146$1,928,826$510,836$2,870,484
3$5,575,654$2,027,064$536,378$3,012,212
4$5,854,436$2,130,214$563,197$3,161,026
5$6,147,158$2,238,521$591,357$3,317,281
6$6,454,516$2,352,243$620,924$3,481,348
7$6,777,242$2,471,652$651,971$3,653,620
8$7,116,104$2,597,031$684,569$3,834,504
9$7,471,909$2,728,679$718,798$4,024,433
10$7,845,505$2,866,909$754,738$4,223,858
11$8,237,780$3,012,051$792,474$4,433,255
12$8,649,669$3,164,450$832,098$4,653,121
13$9,082,152$3,324,469$873,703$4,883,981
14$9,536,260$3,492,488$917,388$5,126,383
15$10,013,073$3,668,909$963,258$5,380,906
16$10,513,727$3,854,151$1,011,420$5,648,155
17$11,039,413$4,048,655$1,061,992$5,928,766
18$11,591,383$4,252,884$1,115,091$6,223,408
19$12,170,953$4,467,325$1,170,846$6,532,782
20$12,779,500$4,692,487$1,229,388$6,857,625
21$13,418,475$4,928,908$1,290,857$7,198,710
22$14,089,399$5,177,150$1,355,400$7,556,849
23$14,793,869$5,437,804$1,423,170$7,932,895
24$15,533,562$5,711,490$1,494,329$8,327,743
25$16,310,240$5,998,861$1,569,045$8,742,334
26$17,125,753$6,300,601$1,647,497$9,177,655
27$17,982,040$6,617,427$1,729,872$9,634,741
28$18,881,142$6,950,095$1,816,366$10,114,681
29$19,825,199$7,299,396$1,907,184$10,618,619
30$20,816,459$7,666,162$2,002,543$11,147,754
Total$336,000,001$123,242,169$32,323,200$180,434,634

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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.