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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 2023

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The tax information provided here is based on 2022 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 $350,000,000 for a ticket purchased in Pennsylvania, 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:

Pennsylvania

Drawing Date:Fri, Oct 6, 2023
Jackpot:$350,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,268,002$1,912,116$161,728$3,194,159
2$5,531,402$2,009,574$169,814$3,352,014
3$5,807,972$2,111,905$178,305$3,517,763
4$6,098,371$2,219,352$187,220$3,691,799
5$6,403,290$2,332,172$196,581$3,874,536
6$6,723,454$2,450,633$206,410$4,066,411
7$7,059,627$2,575,017$216,731$4,267,879
8$7,412,608$2,705,620$227,567$4,479,421
9$7,783,239$2,842,753$238,945$4,701,540
10$8,172,401$2,986,743$250,893$4,934,765
11$8,581,021$3,137,933$263,437$5,179,651
12$9,010,072$3,296,682$276,609$5,436,781
13$9,460,575$3,463,368$290,440$5,706,768
14$9,933,604$3,638,389$304,962$5,990,254
15$10,430,284$3,822,160$320,210$6,287,914
16$10,951,799$4,015,120$336,220$6,600,458
17$11,499,388$4,217,729$353,031$6,928,628
18$12,074,358$4,430,467$370,683$7,273,208
19$12,678,076$4,653,843$389,217$7,635,016
20$13,311,979$4,888,387$408,678$8,014,914
21$13,977,578$5,134,659$429,112$8,413,808
22$14,676,457$5,393,244$450,567$8,832,646
23$15,410,280$5,664,759$473,096$9,272,426
24$16,180,794$5,949,849$496,750$9,734,195
25$16,989,834$6,249,193$521,588$10,219,052
26$17,839,326$6,563,506$547,667$10,728,153
27$18,731,292$6,893,533$575,051$11,262,708
28$19,667,856$7,240,062$603,803$11,823,991
29$20,651,249$7,603,917$633,993$12,413,339
30$21,683,812$7,985,965$665,693$13,032,153
Total$350,000,001$128,388,650$10,745,001$210,866,350

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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.