USA Mega

South Dakota Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 2022

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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 $1,337,000,000 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 money, as well as deductions claimed.

State:

South Dakota

Drawing Date:Fri, Jul 29, 2022
Jackpot:$1,337,000,000
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$20,123,769$7,403,982$0$12,719,786
2$21,129,957$7,776,272$0$13,353,685
3$22,186,455$8,167,176$0$14,019,279
4$23,295,778$8,577,626$0$14,718,153
5$24,460,566$9,008,597$0$15,451,969
6$25,683,595$9,461,118$0$16,222,477
7$26,967,775$9,936,265$0$17,031,511
8$28,316,164$10,435,168$0$17,880,996
9$29,731,972$10,959,017$0$18,772,955
10$31,218,570$11,509,059$0$19,709,512
11$32,779,499$12,086,602$0$20,692,897
12$34,418,474$12,693,023$0$21,725,451
13$36,139,397$13,329,765$0$22,809,633
14$37,946,368$13,998,344$0$23,948,024
15$39,843,686$14,700,351$0$25,143,334
16$41,835,870$15,437,460$0$26,398,411
17$43,927,663$16,211,423$0$27,716,240
18$46,124,047$17,024,085$0$29,099,962
19$48,430,249$17,877,380$0$30,552,869
20$50,851,761$18,773,340$0$32,078,422
21$53,394,349$19,714,097$0$33,680,252
22$56,064,067$20,701,892$0$35,362,174
23$58,867,270$21,739,078$0$37,128,193
24$61,810,633$22,828,122$0$38,982,511
25$64,901,165$23,971,619$0$40,929,546
26$68,146,224$25,172,291$0$42,973,933
27$71,553,535$26,432,996$0$45,120,539
28$75,131,211$27,756,736$0$47,374,475
29$78,887,772$29,146,663$0$49,741,108
30$82,832,161$30,606,087$0$52,226,074
Total$1,337,000,003$493,435,634$0$843,564,371

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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.