USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 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 $87,000,000 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, Nov 1, 2022
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,309,475$442,693$142,733$724,049
2$1,374,949$466,919$149,869$758,160
3$1,443,696$492,355$157,363$793,978
4$1,515,881$519,064$165,231$831,586
5$1,591,675$547,107$173,493$871,075
6$1,671,259$576,553$182,167$912,538
7$1,754,822$607,472$191,276$956,074
8$1,842,563$639,936$200,839$1,001,787
9$1,934,691$674,023$210,881$1,049,786
10$2,031,425$709,815$221,425$1,100,185
11$2,132,997$747,396$232,497$1,153,103
12$2,239,646$786,857$244,121$1,208,668
13$2,351,629$828,290$256,328$1,267,011
14$2,469,210$871,796$269,144$1,328,271
15$2,592,671$917,476$282,601$1,392,594
16$2,722,304$965,440$296,731$1,460,133
17$2,858,419$1,015,803$311,568$1,531,049
18$3,001,340$1,068,684$327,146$1,605,511
19$3,151,407$1,124,208$343,503$1,683,695
20$3,308,978$1,182,510$360,679$1,765,790
21$3,474,427$1,243,726$378,713$1,851,989
22$3,648,148$1,308,002$397,648$1,942,497
23$3,830,555$1,375,493$417,531$2,037,532
24$4,022,083$1,446,358$438,407$2,137,318
25$4,223,187$1,520,767$460,327$2,242,093
26$4,434,347$1,598,896$483,344$2,352,107
27$4,656,064$1,680,931$507,511$2,467,622
28$4,888,867$1,767,069$532,887$2,588,912
29$5,133,311$1,857,513$559,531$2,716,267
30$5,389,976$1,952,479$587,507$2,849,990
Total$87,000,000$30,935,631$9,483,001$46,581,370

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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.