USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $122,000,000 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 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$200,154$998,512
2$1,928,089$671,581$210,162$1,046,347
3$2,024,493$707,250$220,670$1,096,573
4$2,125,718$744,703$231,703$1,149,311
5$2,232,004$784,029$243,288$1,204,686
6$2,343,604$825,321$255,453$1,262,830
7$2,460,784$868,678$268,225$1,323,881
8$2,583,823$914,202$281,637$1,387,984
9$2,713,015$962,003$295,719$1,455,293
10$2,848,665$1,012,194$310,505$1,525,967
11$2,991,099$1,064,894$326,030$1,600,175
12$3,140,654$1,120,230$342,331$1,678,093
13$3,297,686$1,178,332$359,448$1,759,907
14$3,462,571$1,239,339$377,420$1,845,812
15$3,635,699$1,303,396$396,291$1,936,011
16$3,817,484$1,370,657$416,106$2,030,721
17$4,008,358$1,441,280$436,911$2,130,167
18$4,208,776$1,515,435$458,757$2,234,585
19$4,419,215$1,593,297$481,694$2,344,223
20$4,640,176$1,675,053$505,779$2,459,344
21$4,872,184$1,760,896$531,068$2,580,220
22$5,115,794$1,851,031$557,622$2,707,141
23$5,371,583$1,945,674$585,503$2,840,407
24$5,640,162$2,045,048$614,778$2,980,337
25$5,922,171$2,149,391$645,517$3,127,263
26$6,218,279$2,258,951$677,792$3,281,536
27$6,529,193$2,373,989$711,682$3,443,522
28$6,855,653$2,494,779$747,266$3,613,607
29$7,198,435$2,621,609$784,629$3,792,197
30$7,558,357$2,754,780$823,861$3,979,716
Total$122,000,000$43,885,632$13,298,001$64,816,368

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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.