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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 2023

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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 $500,000,000 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:Tue, Jul 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$231,040$4,551,975
2$7,902,004$2,881,929$242,592$4,777,483
3$8,297,104$3,028,116$254,721$5,014,266
4$8,711,959$3,181,613$267,457$5,262,889
5$9,147,557$3,342,784$280,830$5,523,943
6$9,604,935$3,512,014$294,871$5,798,049
7$10,085,182$3,689,705$309,615$6,085,862
8$10,589,441$3,876,281$325,096$6,388,064
9$11,118,913$4,072,185$341,351$6,705,377
10$11,674,858$4,277,885$358,418$7,038,555
11$12,258,601$4,493,870$376,339$7,388,392
12$12,871,531$4,720,654$395,156$7,755,721
13$13,515,108$4,958,778$414,914$8,141,416
14$14,190,863$5,208,807$435,659$8,546,396
15$14,900,406$5,471,338$457,442$8,971,626
16$15,645,427$5,746,996$480,315$9,418,116
17$16,427,698$6,036,436$504,330$9,886,931
18$17,249,083$6,340,348$529,547$10,379,187
19$18,111,537$6,659,456$556,024$10,896,056
20$19,017,114$6,994,520$583,825$11,438,768
21$19,967,969$7,346,336$613,017$12,008,616
22$20,966,368$7,715,744$643,667$12,606,956
23$22,014,686$8,103,622$675,851$13,235,214
24$23,115,420$8,510,893$709,643$13,894,883
25$24,271,191$8,938,528$745,126$14,587,537
26$25,484,751$9,387,546$782,382$15,314,824
27$26,758,989$9,859,013$821,501$16,078,474
28$28,096,938$10,354,055$862,576$16,880,307
29$29,501,785$10,873,848$905,705$17,722,232
30$30,976,874$11,419,631$950,990$18,606,253
Total$500,000,001$183,745,634$15,350,000$300,904,368

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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.