USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 2014

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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 $33,000,000 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, Sep 5, 2014
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$15,249$337,230
2$521,532$152,911$16,011$352,610
3$547,609$162,038$16,812$368,759
4$574,989$171,621$17,652$385,716
5$603,739$181,683$18,535$403,521
6$633,926$192,740$19,462$421,724
7$665,622$204,468$20,435$440,720
8$698,903$216,782$21,456$460,665
9$733,848$229,712$22,529$481,607
10$770,541$243,288$23,656$503,597
11$809,068$257,543$24,838$526,687
12$849,521$272,511$26,080$550,930
13$891,997$288,227$27,384$576,386
14$936,597$304,729$28,754$603,115
15$983,427$322,056$30,191$631,180
16$1,032,598$340,249$31,701$660,648
17$1,084,228$359,352$33,286$691,590
18$1,138,439$379,410$34,950$724,079
19$1,195,361$400,471$36,698$758,192
20$1,255,129$422,586$38,532$794,011
21$1,317,886$445,806$40,459$831,621
22$1,383,780$470,186$42,482$871,112
23$1,452,969$495,786$44,606$912,577
24$1,525,618$522,666$46,836$956,115
25$1,601,899$550,890$49,178$1,001,830
26$1,681,994$580,525$51,637$1,049,831
27$1,766,093$611,642$54,219$1,100,232
28$1,854,398$644,315$56,930$1,153,153
29$1,947,118$678,621$59,777$1,208,720
30$2,044,474$714,643$62,765$1,267,065
Total$33,000,000$10,961,676$1,013,100$21,025,223

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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.