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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Feb 7, 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 $31,000,000 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 prize money, as well as deductions claimed.

State:

Pennsylvania

Drawing Date:Tue, Feb 7, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$14,324$315,209
2$489,924$145,226$15,041$329,657
3$514,420$153,800$15,793$344,828
4$540,141$162,807$16,582$360,752
5$567,149$172,800$17,411$376,937
6$595,506$183,292$18,282$393,932
7$625,281$194,309$19,196$411,776
8$656,545$205,877$20,156$430,513
9$689,373$218,023$21,164$450,186
10$723,841$230,776$22,222$470,843
11$760,033$244,167$23,333$492,533
12$798,035$258,228$24,500$515,307
13$837,937$272,992$25,725$539,220
14$879,834$288,493$27,011$564,329
15$923,825$304,770$28,361$590,693
16$970,016$321,861$29,780$618,376
17$1,018,517$339,806$31,268$647,442
18$1,069,443$358,649$32,832$677,962
19$1,122,915$378,434$34,473$710,008
20$1,179,061$399,208$36,197$743,656
21$1,238,014$421,020$38,007$778,987
22$1,299,915$443,923$39,907$816,084
23$1,364,911$467,972$41,903$855,036
24$1,433,156$493,223$43,998$895,935
25$1,504,814$519,736$46,198$938,880
26$1,580,055$547,575$48,508$983,972
27$1,659,057$576,806$50,933$1,031,318
28$1,742,010$607,499$53,480$1,081,032
29$1,829,111$639,726$56,154$1,133,231
30$1,920,566$673,564$58,961$1,188,040
Total$31,000,000$10,361,623$951,700$19,686,674

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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.