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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Aug 1, 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 $1,100,000,000 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, Aug 1, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$508,287$9,964,170
2$17,384,408$6,390,419$533,701$10,460,288
3$18,253,628$6,712,030$560,386$10,981,211
4$19,166,310$7,049,722$588,406$11,528,182
5$20,124,624$7,404,299$617,826$12,102,500
6$21,130,856$7,776,604$648,717$12,705,534
7$22,187,399$8,167,525$681,153$13,338,721
8$23,296,769$8,577,992$715,211$14,003,566
9$24,461,608$9,008,983$750,971$14,701,654
10$25,684,688$9,461,522$788,520$15,434,646
11$26,968,922$9,936,689$827,946$16,204,287
12$28,317,368$10,435,614$869,343$17,012,411
13$29,733,237$10,959,485$912,810$17,860,941
14$31,219,899$11,509,550$958,451$18,751,897
15$32,780,893$12,087,118$1,006,373$19,687,402
16$34,419,938$12,693,565$1,056,692$20,669,681
17$36,140,935$13,330,334$1,109,527$21,701,074
18$37,947,982$13,998,941$1,165,003$22,784,038
19$39,845,380$14,700,978$1,223,253$23,921,149
20$41,837,650$15,438,118$1,284,416$25,115,116
21$43,929,532$16,212,115$1,348,637$26,368,781
22$46,126,009$17,024,811$1,416,068$27,685,129
23$48,432,309$17,878,142$1,486,872$29,067,295
24$50,853,924$18,774,140$1,561,215$30,518,569
25$53,396,620$19,714,937$1,639,276$32,042,407
26$56,066,452$20,702,775$1,721,240$33,642,437
27$58,869,775$21,740,004$1,807,302$35,322,468
28$61,813,263$22,829,095$1,897,667$37,086,500
29$64,903,926$23,972,640$1,992,551$38,938,735
30$68,149,123$25,173,363$2,092,178$40,883,582
Total$1,100,000,002$405,745,632$33,769,998$660,484,371

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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.