USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$16,635$365,194
2$568,944$169,505$17,467$381,972
3$597,391$179,462$18,340$399,590
4$627,261$190,274$19,257$417,730
5$658,624$201,879$20,220$436,526
6$691,555$214,063$21,231$456,261
7$726,133$226,857$22,292$476,984
8$762,440$240,290$23,407$498,742
9$800,562$254,396$24,577$521,589
10$840,590$269,206$25,806$545,578
11$882,619$284,757$27,096$570,766
12$926,750$301,085$28,451$597,214
13$973,088$318,230$29,874$624,984
14$1,021,742$336,232$31,367$654,142
15$1,072,829$355,135$32,936$684,759
16$1,126,471$374,982$34,583$716,906
17$1,182,794$395,822$36,312$750,661
18$1,241,934$417,703$38,127$786,103
19$1,304,031$440,679$40,034$823,318
20$1,369,232$464,804$42,035$862,393
21$1,437,694$490,134$44,137$903,422
22$1,509,578$516,732$46,344$946,503
23$1,585,057$544,659$48,661$991,737
24$1,664,310$573,983$51,094$1,039,233
25$1,747,526$604,772$53,649$1,089,104
26$1,834,902$637,102$56,331$1,141,469
27$1,926,647$671,047$59,148$1,196,452
28$2,022,980$706,690$62,105$1,254,184
29$2,124,128$744,115$65,211$1,314,802
30$2,230,335$783,412$68,471$1,378,452
Total$36,000,000$12,068,030$1,105,198$22,826,770

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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.