USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 9.62%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$202,713$1,160,752
2$2,212,561$782,720$212,848$1,216,993
3$2,323,189$823,652$223,491$1,276,046
4$2,439,349$866,631$234,665$1,338,052
5$2,561,316$911,759$246,399$1,403,158
6$2,689,382$959,143$258,719$1,471,520
7$2,823,851$1,008,897$271,654$1,543,299
8$2,965,043$1,061,138$285,237$1,618,668
9$3,113,296$1,115,992$299,499$1,697,805
10$3,268,960$1,173,588$314,474$1,780,899
11$3,432,408$1,234,063$330,198$1,868,147
12$3,604,029$1,297,563$346,708$1,959,758
13$3,784,230$1,364,237$364,043$2,055,950
14$3,973,442$1,434,246$382,245$2,156,951
15$4,172,114$1,507,754$401,357$2,263,002
16$4,380,719$1,584,938$421,425$2,374,356
17$4,599,755$1,665,982$442,496$2,491,277
18$4,829,743$1,751,077$464,621$2,614,045
19$5,071,230$1,840,427$487,852$2,742,950
20$5,324,792$1,934,245$512,245$2,878,302
21$5,591,031$2,032,754$537,857$3,020,420
22$5,870,583$2,136,188$564,750$3,169,645
23$6,164,112$2,244,794$592,988$3,326,331
24$6,472,318$2,358,830$622,637$3,490,851
25$6,795,933$2,478,568$653,769$3,663,597
26$7,135,730$2,604,292$686,457$3,844,981
27$7,492,517$2,736,303$720,780$4,035,433
28$7,867,143$2,874,915$756,819$4,235,408
29$8,260,500$3,020,457$794,660$4,445,382
30$8,673,525$3,173,276$834,393$4,665,855
Total$140,000,000$50,722,166$13,467,999$75,809,833

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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.