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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 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 $640,000,000 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 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,522,368$295,731$5,814,820
2$10,114,564$3,700,577$310,517$6,103,471
3$10,620,292$3,887,696$326,043$6,406,554
4$11,151,308$4,084,172$342,345$6,724,791
5$11,708,872$4,290,471$359,462$7,058,939
6$12,294,316$4,507,085$377,436$7,409,796
7$12,909,032$4,734,530$396,307$7,778,195
8$13,554,484$4,973,347$416,123$8,165,014
9$14,232,208$5,224,105$436,929$8,571,175
10$14,943,818$5,487,400$458,775$8,997,643
11$15,691,009$5,763,861$481,714$9,445,434
12$16,475,560$6,054,145$505,800$9,915,615
13$17,299,338$6,358,943$531,090$10,409,305
14$18,164,305$6,678,980$557,644$10,927,680
15$19,072,520$7,015,020$585,526$11,471,973
16$20,026,146$7,367,862$614,803$12,043,481
17$21,027,453$7,738,345$645,543$12,643,565
18$22,078,826$8,127,353$677,820$13,273,652
19$23,182,767$8,535,811$711,711$13,935,244
20$24,341,905$8,964,693$747,296$14,629,916
21$25,559,000$9,415,018$784,661$15,359,321
22$26,836,950$9,887,859$823,894$16,125,197
23$28,178,798$10,384,343$865,089$16,929,366
24$29,587,738$10,905,651$908,344$17,773,743
25$31,067,124$11,453,024$953,761$18,660,340
26$32,620,481$12,027,766$1,001,449$19,591,267
27$34,251,505$12,631,245$1,051,521$20,568,739
28$35,964,080$13,264,897$1,104,097$21,595,085
29$37,762,284$13,930,233$1,159,302$22,672,749
30$39,650,399$14,628,835$1,217,267$23,804,296
Total$640,000,001$235,545,635$19,648,000$384,806,366

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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.