USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Sep 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 $162,000,000 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, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$265,778$1,312,183
2$2,560,249$905,480$279,067$1,375,702
3$2,688,262$952,845$293,021$1,442,397
4$2,822,675$1,002,577$307,672$1,512,426
5$2,963,808$1,054,797$323,055$1,585,956
6$3,111,999$1,109,627$339,208$1,663,164
7$3,267,599$1,167,199$356,168$1,744,231
8$3,430,979$1,227,650$373,977$1,829,352
9$3,602,528$1,291,123$392,676$1,918,729
10$3,782,654$1,357,770$412,309$2,012,575
11$3,971,787$1,427,749$432,925$2,111,113
12$4,170,376$1,501,227$454,571$2,214,578
13$4,378,895$1,578,379$477,300$2,323,216
14$4,597,840$1,659,388$501,165$2,437,287
15$4,827,732$1,744,448$526,223$2,557,060
16$5,069,118$1,833,761$552,534$2,682,823
17$5,322,574$1,927,540$580,161$2,814,873
18$5,588,703$2,026,008$609,169$2,953,526
19$5,868,138$2,129,399$639,627$3,099,112
20$6,161,545$2,237,959$671,608$3,251,977
21$6,469,622$2,351,948$705,189$3,412,485
22$6,793,103$2,471,636$740,448$3,581,019
23$7,132,758$2,597,308$777,471$3,757,979
24$7,489,396$2,729,264$816,344$3,943,788
25$7,863,866$2,867,818$857,161$4,138,886
26$8,257,059$3,013,300$900,019$4,343,740
27$8,669,912$3,166,055$945,020$4,558,837
28$9,103,408$3,326,449$992,271$4,784,688
29$9,558,578$3,494,862$1,041,885$5,021,831
30$10,036,507$3,671,695$1,093,979$5,270,832
Total$162,000,000$58,685,632$17,658,001$85,656,365

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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.