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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $720,000,000 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, Jul 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$332,697$6,536,446
2$11,378,885$4,168,375$349,332$6,861,178
3$11,947,829$4,378,884$366,798$7,202,146
4$12,545,221$4,599,920$385,138$7,560,163
5$13,172,481$4,832,006$404,395$7,936,080
6$13,831,106$5,075,697$424,615$8,330,794
7$14,522,661$5,331,572$445,846$8,745,243
8$15,248,794$5,600,242$468,138$9,180,415
9$16,011,234$5,882,344$491,545$9,637,345
10$16,811,796$6,178,552$516,122$10,117,121
11$17,652,385$6,489,570$541,928$10,620,887
12$18,535,005$6,816,139$569,025$11,149,841
13$19,461,755$7,159,037$597,476$11,705,242
14$20,434,843$7,519,080$627,350$12,288,413
15$21,456,585$7,897,124$658,717$12,900,743
16$22,529,414$8,294,071$691,653$13,543,690
17$23,655,884$8,710,865$726,236$14,218,784
18$24,838,679$9,148,499$762,547$14,927,632
19$26,080,613$9,608,014$800,675$15,671,923
20$27,384,643$10,090,506$840,709$16,453,429
21$28,753,875$10,597,122$882,744$17,274,010
22$30,191,569$11,129,068$926,881$18,135,620
23$31,701,148$11,687,612$973,225$19,040,310
24$33,286,205$12,274,084$1,021,886$19,990,235
25$34,950,515$12,889,878$1,072,981$20,987,656
26$36,698,041$13,536,463$1,126,630$22,034,948
27$38,532,943$14,215,377$1,182,961$23,134,605
28$40,459,590$14,928,236$1,242,109$24,289,245
29$42,482,570$15,676,739$1,304,215$25,501,616
30$44,606,699$16,462,666$1,369,426$26,774,607
Total$720,000,001$265,145,632$22,104,000$432,750,367

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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.