USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$59,062$322,767
2$568,944$169,505$62,015$337,424
3$597,391$179,462$65,116$352,814
4$627,261$190,274$68,371$368,615
5$658,624$201,879$71,790$384,955
6$691,555$214,063$75,380$402,113
7$726,133$226,857$79,149$420,128
8$762,440$240,290$83,106$439,043
9$800,562$254,396$87,261$458,905
10$840,590$269,206$91,624$479,760
11$882,619$284,757$96,206$501,657
12$926,750$301,085$101,016$524,649
13$973,088$318,230$106,067$548,791
14$1,021,742$336,232$111,370$574,140
15$1,072,829$355,135$116,938$600,756
16$1,126,471$374,982$122,785$628,703
17$1,182,794$395,822$128,925$658,048
18$1,241,934$417,703$135,371$688,860
19$1,304,031$440,679$142,139$721,212
20$1,369,232$464,804$149,246$755,182
21$1,437,694$490,134$156,709$790,851
22$1,509,578$516,732$164,544$828,303
23$1,585,057$544,659$172,771$867,627
24$1,664,310$573,983$181,410$908,918
25$1,747,526$604,772$190,480$952,273
26$1,834,902$637,102$200,004$997,796
27$1,926,647$671,047$210,005$1,045,595
28$2,022,980$706,690$220,505$1,095,785
29$2,124,128$744,115$231,530$1,148,483
30$2,230,335$783,412$243,107$1,203,817
Total$36,000,000$12,068,030$3,924,002$20,007,970

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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.