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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Aug 29, 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 $67,000,000 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 29, 2023
Jackpot:$67,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$331,313$30,959$646,174
2$1,058,868$349,969$32,507$676,392
3$1,111,812$369,558$34,133$708,121
4$1,167,403$390,127$35,839$741,437
5$1,225,773$411,724$37,631$776,418
6$1,287,061$434,400$39,513$813,148
7$1,351,414$458,211$41,488$851,715
8$1,418,985$483,212$43,563$892,210
9$1,489,934$509,463$45,741$934,730
10$1,564,431$537,027$48,028$979,376
11$1,642,653$565,969$50,429$1,026,254
12$1,724,785$596,358$52,951$1,075,476
13$1,811,024$628,267$55,598$1,127,159
14$1,901,576$661,771$58,378$1,181,427
15$1,996,654$696,950$61,297$1,238,407
16$2,096,487$733,888$64,362$1,298,237
17$2,201,311$772,673$67,580$1,361,058
18$2,311,377$813,397$70,959$1,427,021
19$2,426,946$856,158$74,507$1,496,281
20$2,548,293$901,056$78,233$1,569,004
21$2,675,708$948,200$82,144$1,645,364
22$2,809,493$997,700$86,251$1,725,542
23$2,949,968$1,049,676$90,564$1,809,728
24$3,097,466$1,104,250$95,092$1,898,124
25$3,252,340$1,161,553$99,847$1,990,939
26$3,414,957$1,221,722$104,839$2,088,396
27$3,585,704$1,284,898$110,081$2,190,725
28$3,764,990$1,351,234$115,585$2,298,171
29$3,953,239$1,420,886$121,364$2,410,988
30$4,150,901$1,494,021$127,433$2,529,447
Total$67,000,000$23,535,631$2,056,896$41,407,469

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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.