USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $52,000,000 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, Aug 25, 2023
Jackpot:$52,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$247,777$85,312$449,586
2$821,808$262,257$89,577$469,974
3$862,899$277,460$94,056$491,383
4$906,044$293,424$98,759$513,861
5$951,346$310,186$103,697$537,463
6$998,913$327,786$108,882$562,246
7$1,048,859$346,266$114,326$588,268
8$1,101,302$365,669$120,042$615,590
9$1,156,367$386,044$126,044$644,279
10$1,214,185$407,436$132,346$674,403
11$1,274,895$429,899$138,964$706,032
12$1,338,639$453,484$145,912$739,243
13$1,405,571$478,249$153,207$774,115
14$1,475,850$504,252$160,868$810,730
15$1,549,642$531,555$168,911$849,176
16$1,627,124$560,224$177,357$889,544
17$1,708,481$590,326$186,224$931,931
18$1,793,905$621,932$195,536$976,437
19$1,883,600$655,120$205,312$1,023,168
20$1,977,780$689,966$215,578$1,072,236
21$2,076,669$726,555$226,357$1,123,757
22$2,180,502$764,974$237,675$1,177,854
23$2,289,527$805,313$249,558$1,234,656
24$2,404,004$847,669$262,036$1,294,298
25$2,524,204$892,143$275,138$1,356,922
26$2,650,414$938,841$288,895$1,422,678
27$2,782,935$987,874$303,340$1,491,721
28$2,922,082$1,039,358$318,507$1,564,217
29$3,068,186$1,093,416$334,432$1,640,337
30$3,221,595$1,150,178$351,154$1,720,263
Total$52,000,000$17,985,633$5,668,002$28,346,368

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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.