USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jul 28, 2023

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The tax information provided here is based on 2025 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 $940,000,000 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, Jul 28, 2023
Jackpot:$940,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,148,349$5,191,909$1,542,170$7,414,270
2$14,855,767$5,453,654$1,619,279$7,782,834
3$15,598,555$5,728,485$1,700,242$8,169,827
4$16,378,483$6,017,059$1,785,255$8,576,169
5$17,197,406$6,320,061$1,874,517$9,002,828
6$18,057,277$6,638,213$1,968,243$9,450,821
7$18,960,141$6,972,273$2,066,655$9,921,213
8$19,908,148$7,323,035$2,169,988$10,415,125
9$20,903,556$7,691,336$2,278,488$10,933,732
10$21,948,733$8,078,051$2,392,412$11,478,270
11$23,046,170$8,484,103$2,512,033$12,050,034
12$24,198,478$8,910,457$2,637,634$12,650,387
13$25,408,402$9,358,129$2,769,516$13,280,757
14$26,678,822$9,828,185$2,907,992$13,942,646
15$28,012,763$10,321,743$3,053,391$14,637,629
16$29,413,402$10,839,979$3,206,061$15,367,362
17$30,884,071$11,384,127$3,366,364$16,133,581
18$32,428,275$11,955,482$3,534,682$16,938,111
19$34,049,689$12,555,405$3,711,416$17,782,868
20$35,752,173$13,185,324$3,896,987$18,669,862
21$37,539,782$13,846,739$4,091,836$19,601,206
22$39,416,771$14,541,225$4,296,428$20,579,117
23$41,387,610$15,270,436$4,511,249$21,605,924
24$43,456,990$16,036,106$4,736,812$22,684,071
25$45,629,839$16,840,061$4,973,652$23,816,126
26$47,911,332$17,684,213$5,222,335$25,004,784
27$50,306,898$18,570,573$5,483,452$26,252,874
28$52,822,243$19,501,250$5,757,624$27,563,368
29$55,463,355$20,478,462$6,045,506$28,939,388
30$58,236,523$21,504,534$6,347,781$30,384,208
Total$940,000,002$346,510,609$102,460,000$491,029,392

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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.