USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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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 $45,000,000 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 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$73,827$394,693
2$711,180$221,324$77,519$412,337
3$746,739$234,481$81,395$430,863
4$784,076$248,296$85,464$450,316
5$823,280$262,801$89,738$470,741
6$864,444$278,032$94,224$492,188
7$907,666$294,024$98,936$514,706
8$953,050$310,816$103,882$538,351
9$1,000,702$328,448$109,077$563,178
10$1,050,737$346,961$114,530$589,246
11$1,103,274$366,399$120,257$616,618
12$1,158,438$386,810$126,270$645,358
13$1,216,360$408,241$132,583$675,536
14$1,277,178$430,743$139,212$707,222
15$1,341,037$454,371$146,173$740,492
16$1,408,088$479,180$153,482$775,426
17$1,478,493$505,230$161,156$812,107
18$1,552,417$532,582$169,213$850,622
19$1,630,038$561,302$177,674$891,062
20$1,711,540$591,458$186,558$933,525
21$1,797,117$623,121$195,886$978,110
22$1,886,973$656,368$205,680$1,024,925
23$1,981,322$691,277$215,964$1,074,081
24$2,080,388$727,931$226,762$1,125,694
25$2,184,407$766,418$238,100$1,179,888
26$2,293,628$806,830$250,005$1,236,792
27$2,408,309$849,262$262,506$1,296,541
28$2,528,724$893,816$275,631$1,359,278
29$2,655,161$940,597$289,413$1,425,151
30$2,787,919$989,718$303,883$1,494,318
Total$45,000,000$15,395,631$4,905,000$24,699,365

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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.