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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Jul 25, 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 $820,000,000 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 25, 2023
Jackpot:$820,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,342,177$4,524,793$378,905$7,438,479
2$12,959,286$4,753,123$397,850$7,808,312
3$13,607,250$4,992,870$417,743$8,196,637
4$14,287,613$5,244,604$438,630$8,604,379
5$15,001,993$5,508,925$460,561$9,032,506
6$15,752,093$5,786,462$483,589$9,482,041
7$16,539,698$6,077,876$507,769$9,954,053
8$17,366,682$6,383,860$533,157$10,449,665
9$18,235,017$6,705,144$559,815$10,970,058
10$19,146,767$7,042,492$587,806$11,516,470
11$20,104,106$7,396,707$617,196$12,090,203
12$21,109,311$7,768,633$648,056$12,692,622
13$22,164,776$8,159,155$680,459$13,325,163
14$23,273,015$8,569,203$714,482$13,989,330
15$24,436,666$8,999,754$750,206$14,686,706
16$25,658,499$9,451,833$787,716$15,418,951
17$26,941,424$9,926,515$827,102$16,187,808
18$28,288,495$10,424,931$868,457$16,995,107
19$29,702,920$10,948,268$911,880$17,842,772
20$31,188,066$11,497,772$957,474$18,732,820
21$32,747,469$12,074,751$1,005,347$19,667,371
22$34,384,843$12,680,580$1,055,615$20,648,648
23$36,104,085$13,316,699$1,108,395$21,678,990
24$37,909,289$13,984,625$1,163,815$22,760,849
25$39,804,753$14,685,946$1,222,006$23,896,801
26$41,794,992$15,422,335$1,283,106$25,089,551
27$43,884,741$16,195,542$1,347,262$26,341,938
28$46,078,978$17,007,409$1,414,625$27,656,943
29$48,382,927$17,859,871$1,485,356$29,037,700
30$50,802,073$18,754,955$1,559,624$30,487,495
Total$820,000,002$302,145,633$25,174,004$492,680,368

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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.