USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 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 $500,000,000 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, Jul 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$820,303$3,962,711
2$7,902,004$2,881,929$861,318$4,158,756
3$8,297,104$3,028,116$904,384$4,364,603
4$8,711,959$3,181,613$949,604$4,580,743
5$9,147,557$3,342,784$997,084$4,807,689
6$9,604,935$3,512,014$1,046,938$5,045,983
7$10,085,182$3,689,705$1,099,285$5,296,192
8$10,589,441$3,876,281$1,154,249$5,558,911
9$11,118,913$4,072,185$1,211,961$5,834,766
10$11,674,858$4,277,885$1,272,560$6,124,413
11$12,258,601$4,493,870$1,336,188$6,428,543
12$12,871,531$4,720,654$1,402,997$6,747,880
13$13,515,108$4,958,778$1,473,147$7,083,183
14$14,190,863$5,208,807$1,546,804$7,435,252
15$14,900,406$5,471,338$1,624,144$7,804,924
16$15,645,427$5,746,996$1,705,351$8,193,079
17$16,427,698$6,036,436$1,790,619$8,600,643
18$17,249,083$6,340,348$1,880,150$9,028,584
19$18,111,537$6,659,456$1,974,157$9,477,923
20$19,017,114$6,994,520$2,072,865$9,949,728
21$19,967,969$7,346,336$2,176,509$10,445,124
22$20,966,368$7,715,744$2,285,334$10,965,290
23$22,014,686$8,103,622$2,399,601$11,511,464
24$23,115,420$8,510,893$2,519,581$12,084,946
25$24,271,191$8,938,528$2,645,560$12,687,103
26$25,484,751$9,387,546$2,777,838$13,319,368
27$26,758,989$9,859,013$2,916,730$13,983,245
28$28,096,938$10,354,055$3,062,566$14,680,317
29$29,501,785$10,873,848$3,215,695$15,412,242
30$30,976,874$11,419,631$3,376,479$16,180,764
Total$500,000,001$183,745,634$54,500,001$261,754,369

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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.