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South Dakota Mega Millions Jackpot Annuity Payout Schedule for Feb 7, 2023

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The tax information provided here is based on 2022 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 $31,000,000 for a ticket purchased in South Dakota, 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 prize money, as well as deductions claimed.

State:

South Dakota

Drawing Date:Tue, Feb 7, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$0$329,533
2$489,924$145,226$0$344,698
3$514,420$153,800$0$360,620
4$540,141$162,807$0$377,334
5$567,149$172,800$0$394,349
6$595,506$183,292$0$412,214
7$625,281$194,309$0$430,972
8$656,545$205,877$0$450,669
9$689,373$218,023$0$471,350
10$723,841$230,776$0$493,065
11$760,033$244,167$0$515,866
12$798,035$258,228$0$539,807
13$837,937$272,992$0$564,945
14$879,834$288,493$0$591,340
15$923,825$304,770$0$619,055
16$970,016$321,861$0$648,155
17$1,018,517$339,806$0$678,711
18$1,069,443$358,649$0$710,794
19$1,122,915$378,434$0$744,482
20$1,179,061$399,208$0$779,853
21$1,238,014$421,020$0$816,994
22$1,299,915$443,923$0$855,991
23$1,364,911$467,972$0$896,939
24$1,433,156$493,223$0$939,933
25$1,504,814$519,736$0$985,078
26$1,580,055$547,575$0$1,032,479
27$1,659,057$576,806$0$1,082,251
28$1,742,010$607,499$0$1,134,511
29$1,829,111$639,726$0$1,189,385
30$1,920,566$673,564$0$1,247,002
Total$31,000,000$10,361,623$0$20,638,375

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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.