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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Jul 7, 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 $450,000,000 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 7, 2023
Jackpot:$450,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,773,146$2,464,252$207,936$4,100,958
2$7,111,803$2,589,555$218,332$4,303,916
3$7,467,393$2,721,123$229,249$4,517,021
4$7,840,763$2,859,270$240,711$4,740,782
5$8,232,801$3,004,324$252,747$4,975,730
6$8,644,441$3,156,631$265,384$5,222,426
7$9,076,663$3,316,553$278,654$5,481,457
8$9,530,496$3,484,471$292,586$5,753,439
9$10,007,021$3,660,786$307,216$6,039,020
10$10,507,372$3,845,915$322,576$6,338,880
11$11,032,741$4,040,302$338,705$6,653,734
12$11,584,378$4,244,408$355,640$6,984,330
13$12,163,597$4,458,719$373,422$7,331,456
14$12,771,777$4,683,745$392,094$7,695,938
15$13,410,365$4,920,023$411,698$8,078,644
16$14,080,884$5,168,115$432,283$8,480,486
17$14,784,928$5,428,611$453,897$8,902,419
18$15,524,174$5,702,132$476,592$9,345,450
19$16,300,383$5,989,329$500,422$9,810,632
20$17,115,402$6,290,887$525,443$10,299,073
21$17,971,172$6,607,521$551,715$10,811,936
22$18,869,731$6,939,988$579,301$11,350,442
23$19,813,217$7,289,078$608,266$11,915,873
24$20,803,878$7,655,623$638,679$12,509,576
25$21,844,072$8,040,494$670,613$13,132,965
26$22,936,276$8,444,610$704,144$13,787,522
27$24,083,090$8,868,931$739,351$14,474,808
28$25,287,244$9,314,468$776,318$15,196,457
29$26,551,606$9,782,282$815,134$15,954,190
30$27,879,187$10,273,487$855,891$16,749,809
Total$450,000,001$165,245,633$13,814,999$270,939,369

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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.