USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jun 30, 2023

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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 $368,000,000 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:Fri, Jun 30, 2023
Jackpot:$368,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,538,928$2,007,591$603,743$2,927,594
2$5,815,875$2,110,061$633,930$3,071,883
3$6,106,668$2,217,655$665,627$3,223,386
4$6,412,002$2,330,628$698,908$3,382,465
5$6,732,602$2,449,250$733,854$3,549,498
6$7,069,232$2,573,804$770,546$3,724,882
7$7,422,694$2,704,584$809,074$3,909,036
8$7,793,828$2,841,904$849,527$4,102,397
9$8,183,520$2,986,090$892,004$4,305,426
10$8,592,695$3,137,485$936,604$4,518,607
11$9,022,330$3,296,450$983,434$4,742,446
12$9,473,447$3,463,363$1,032,606$4,977,478
13$9,947,119$3,638,622$1,084,236$5,224,261
14$10,444,475$3,822,644$1,138,448$5,483,384
15$10,966,699$4,015,866$1,195,370$5,755,462
16$11,515,034$4,218,750$1,255,139$6,041,145
17$12,090,785$4,431,778$1,317,896$6,341,111
18$12,695,325$4,655,458$1,383,790$6,656,076
19$13,330,091$4,890,321$1,452,980$6,986,790
20$13,996,596$5,136,928$1,525,629$7,334,039
21$14,696,425$5,395,865$1,601,910$7,698,650
22$15,431,246$5,667,749$1,682,006$8,081,492
23$16,202,809$5,953,227$1,766,106$8,483,476
24$17,012,949$6,252,979$1,854,411$8,905,559
25$17,863,597$6,567,718$1,947,132$9,348,746
26$18,756,777$6,898,195$2,044,489$9,814,093
27$19,694,616$7,245,195$2,146,713$10,302,707
28$20,679,346$7,609,546$2,254,049$10,815,752
29$21,713,313$7,992,114$2,366,751$11,354,449
30$22,798,979$8,393,810$2,485,089$11,920,080
Total$368,000,001$134,905,630$40,112,001$192,982,370

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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.