USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2024

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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 $977,000,000 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, Mar 22, 2024
Jackpot:$977,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,705,252$5,399,131$1,602,872$7,703,249
2$15,440,515$5,671,178$1,683,016$8,086,320
3$16,212,540$5,956,828$1,767,167$8,488,546
4$17,023,168$6,256,760$1,855,525$8,910,883
5$17,874,325$6,571,688$1,948,301$9,354,336
6$18,768,042$6,902,363$2,045,717$9,819,962
7$19,706,445$7,249,572$2,148,002$10,308,870
8$20,691,767$7,614,141$2,255,403$10,822,223
9$21,726,355$7,996,939$2,368,173$11,361,243
10$22,812,673$8,398,877$2,486,581$11,927,215
11$23,953,306$8,820,911$2,610,910$12,521,485
12$25,150,972$9,264,047$2,741,456$13,145,468
13$26,408,520$9,729,340$2,878,529$13,800,651
14$27,728,946$10,217,898$3,022,455$14,488,593
15$29,115,393$10,730,883$3,173,578$15,210,932
16$30,571,163$11,269,518$3,332,257$15,969,388
17$32,099,721$11,835,084$3,498,870$16,765,767
18$33,704,707$12,428,929$3,673,813$17,601,965
19$35,389,942$13,052,466$3,857,504$18,479,972
20$37,159,440$13,707,180$4,050,379$19,401,880
21$39,017,411$14,394,630$4,252,898$20,369,884
22$40,968,282$15,116,452$4,465,543$21,386,287
23$43,016,696$15,874,365$4,688,820$22,453,511
24$45,167,531$16,670,174$4,923,261$23,574,096
25$47,425,907$17,505,773$5,169,424$24,750,710
26$49,797,203$18,383,153$5,427,895$25,986,155
27$52,287,064$19,304,401$5,699,290$27,283,372
28$54,901,416$20,271,712$5,984,254$28,645,450
29$57,646,487$21,287,388$6,283,467$30,075,632
30$60,528,812$22,353,848$6,597,640$31,577,323
Total$977,000,002$360,235,629$106,493,000$510,271,368

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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.