USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Aug 4, 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 $1,350,000,000 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 4, 2023
Jackpot:$1,350,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,319,437$7,476,380$2,214,819$10,628,239
2$21,335,409$7,852,289$2,325,560$11,157,561
3$22,402,179$8,246,994$2,441,838$11,713,348
4$23,522,289$8,661,435$2,563,930$12,296,925
5$24,698,403$9,096,597$2,692,126$12,909,680
6$25,933,323$9,553,517$2,826,732$13,553,074
7$27,229,990$10,033,284$2,968,069$14,228,637
8$28,591,489$10,537,039$3,116,472$14,937,978
9$30,021,064$11,065,981$3,272,296$15,682,786
10$31,522,117$11,621,371$3,435,911$16,464,835
11$33,098,223$12,204,530$3,607,706$17,285,986
12$34,753,134$12,816,847$3,788,092$18,148,195
13$36,490,790$13,459,780$3,977,496$19,053,514
14$38,315,330$14,134,860$4,176,371$20,004,099
15$40,231,096$14,843,693$4,385,189$21,002,213
16$42,242,652$15,587,969$4,604,449$22,050,234
17$44,354,783$16,369,458$4,834,671$23,150,654
18$46,572,523$17,190,021$5,076,405$24,306,097
19$48,901,149$18,051,613$5,330,225$25,519,311
20$51,346,206$18,956,284$5,596,737$26,793,186
21$53,913,516$19,906,189$5,876,573$28,130,754
22$56,609,192$20,903,589$6,170,402$29,535,201
23$59,439,652$21,950,859$6,478,922$31,009,871
24$62,411,634$23,050,492$6,802,868$32,558,274
25$65,532,216$24,205,108$7,143,012$34,184,097
26$68,808,828$25,417,454$7,500,162$35,891,211
27$72,249,269$26,690,417$7,875,170$37,683,681
28$75,861,731$28,027,028$8,268,929$39,565,774
29$79,654,818$29,430,470$8,682,375$41,541,973
30$83,637,560$30,904,085$9,116,494$43,616,981
Total$1,350,000,003$498,245,633$147,150,001$704,604,369

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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.