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Texas Mega Millions Jackpot Annuity Payout Schedule for Jun 3, 2005

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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 $106,000,000 for a ticket purchased in Texas, 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:

Texas

Drawing Date:Fri, Jun 3, 2005
Jackpot:$106,000,000
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$1,595,452$548,505$0$1,046,947
2$1,675,225$578,021$0$1,097,204
3$1,758,986$609,013$0$1,149,973
4$1,846,935$641,554$0$1,205,381
5$1,939,282$675,722$0$1,263,560
6$2,036,246$711,599$0$1,324,647
7$2,138,058$749,269$0$1,388,789
8$2,244,961$788,823$0$1,456,138
9$2,357,209$830,355$0$1,526,854
10$2,475,070$873,964$0$1,601,106
11$2,598,823$919,752$0$1,679,071
12$2,728,765$967,831$0$1,760,934
13$2,865,203$1,018,313$0$1,846,890
14$3,008,463$1,071,319$0$1,937,144
15$3,158,886$1,126,976$0$2,031,910
16$3,316,830$1,185,415$0$2,131,415
17$3,482,672$1,246,776$0$2,235,896
18$3,656,805$1,311,206$0$2,345,600
19$3,839,646$1,378,857$0$2,460,789
20$4,031,628$1,449,890$0$2,581,738
21$4,233,209$1,524,475$0$2,708,734
22$4,444,870$1,602,790$0$2,842,080
23$4,667,113$1,685,020$0$2,982,094
24$4,900,469$1,771,361$0$3,129,108
25$5,145,492$1,862,020$0$3,283,473
26$5,402,767$1,957,212$0$3,445,556
27$5,672,906$2,057,163$0$3,615,743
28$5,956,551$2,162,112$0$3,794,439
29$6,254,378$2,272,308$0$3,982,071
30$6,567,097$2,388,014$0$4,179,084
Total$106,000,000$37,965,635$0$68,034,368

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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.