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Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $122,000,000 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, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$56,374$1,142,292
2$1,928,089$671,581$59,192$1,197,316
3$2,024,493$707,250$62,152$1,255,091
4$2,125,718$744,703$65,260$1,315,755
5$2,232,004$784,029$68,523$1,379,452
6$2,343,604$825,321$71,949$1,446,334
7$2,460,784$868,678$75,546$1,516,560
8$2,583,823$914,202$79,323$1,590,298
9$2,713,015$962,003$83,290$1,667,722
10$2,848,665$1,012,194$87,454$1,749,017
11$2,991,099$1,064,894$91,827$1,834,378
12$3,140,654$1,120,230$96,418$1,924,006
13$3,297,686$1,178,332$101,239$2,018,116
14$3,462,571$1,239,339$106,301$2,116,931
15$3,635,699$1,303,396$111,616$2,220,687
16$3,817,484$1,370,657$117,197$2,329,630
17$4,008,358$1,441,280$123,057$2,444,021
18$4,208,776$1,515,435$129,209$2,564,132
19$4,419,215$1,593,297$135,670$2,690,248
20$4,640,176$1,675,053$142,453$2,822,670
21$4,872,184$1,760,896$149,576$2,961,712
22$5,115,794$1,851,031$157,055$3,107,707
23$5,371,583$1,945,674$164,908$3,261,002
24$5,640,162$2,045,048$173,153$3,421,962
25$5,922,171$2,149,391$181,811$3,590,969
26$6,218,279$2,258,951$190,901$3,768,427
27$6,529,193$2,373,989$200,446$3,954,758
28$6,855,653$2,494,779$210,469$4,150,405
29$7,198,435$2,621,609$220,992$4,355,835
30$7,558,357$2,754,780$232,042$4,571,536
Total$122,000,000$43,885,632$3,745,403$74,368,969

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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.