USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$9,242$211,883
2$316,080$85,172$9,704$221,204
3$331,884$90,704$10,189$230,992
4$348,478$96,512$10,698$241,268
5$365,902$102,610$11,233$252,059
6$384,197$109,013$11,795$263,389
7$403,407$115,737$12,385$275,286
8$423,578$122,796$13,004$287,777
9$444,757$130,209$13,654$300,893
10$466,994$137,992$14,337$314,665
11$490,344$146,165$15,054$329,126
12$514,861$154,746$15,806$344,309
13$540,604$164,096$16,597$359,912
14$567,635$174,097$17,426$376,111
15$596,016$184,598$18,298$393,120
16$625,817$195,625$19,213$410,980
17$657,108$207,202$20,173$429,733
18$689,963$219,359$21,182$449,423
19$724,461$232,123$22,241$470,098
20$760,685$245,526$23,353$491,806
21$798,719$259,598$24,521$514,600
22$838,655$274,374$25,747$538,534
23$880,587$289,890$27,034$563,664
24$924,617$306,180$28,386$590,051
25$970,848$323,286$29,805$617,757
26$1,019,390$341,247$31,295$646,848
27$1,070,360$360,105$32,860$677,394
28$1,123,878$379,907$34,503$709,468
29$1,180,071$400,699$36,228$743,145
30$1,239,075$422,530$38,040$778,505
Total$20,000,000$6,352,002$614,003$13,034,000

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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.