USA Mega

Tennessee Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $1,337,000,000 for a ticket purchased in Tennessee, 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:

Tennessee

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$7,408,749$0$12,715,019
2$21,129,957$7,781,039$0$13,348,918
3$22,186,455$8,171,943$0$14,014,511
4$23,295,778$8,582,393$0$14,713,385
5$24,460,566$9,013,364$0$15,447,202
6$25,683,595$9,465,885$0$16,217,710
7$26,967,775$9,941,032$0$17,026,743
8$28,316,164$10,439,936$0$17,876,228
9$29,731,972$10,963,785$0$18,768,187
10$31,218,570$11,513,826$0$19,704,744
11$32,779,499$12,091,370$0$20,688,129
12$34,418,474$12,697,790$0$21,720,684
13$36,139,397$13,334,532$0$22,804,865
14$37,946,368$14,003,111$0$23,943,257
15$39,843,686$14,705,119$0$25,138,567
16$41,835,870$15,442,227$0$26,393,643
17$43,927,663$16,216,190$0$27,711,473
18$46,124,047$17,028,852$0$29,095,194
19$48,430,249$17,882,147$0$30,548,102
20$50,851,761$18,778,107$0$32,073,655
21$53,394,349$19,718,864$0$33,675,485
22$56,064,067$20,706,660$0$35,357,407
23$58,867,270$21,743,845$0$37,123,425
24$61,810,633$22,832,889$0$38,977,744
25$64,901,165$23,976,386$0$40,924,779
26$68,146,224$25,177,058$0$42,969,166
27$71,553,535$26,437,763$0$45,115,772
28$75,131,211$27,761,503$0$47,369,708
29$78,887,772$29,151,431$0$49,736,341
30$82,832,161$30,610,855$0$52,221,306
Total$1,337,000,003$493,578,651$0$843,421,349

◄ Back to Jackpot Analysis

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.