USA Mega

Texas Mega Millions Jackpot Annuity Payout Schedule for Sep 26, 2014

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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 $93,000,000 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 prize money, as well as deductions claimed.

State:

Texas

Drawing Date:Fri, Sep 26, 2014
Jackpot:$93,000,000
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$1,399,783$480,875$0$918,909
2$1,469,773$506,771$0$963,002
3$1,543,261$533,962$0$1,009,300
4$1,620,424$562,512$0$1,057,912
5$1,701,446$592,490$0$1,108,956
6$1,786,518$623,967$0$1,162,551
7$1,875,844$657,017$0$1,218,827
8$1,969,636$691,720$0$1,277,916
9$2,068,118$728,159$0$1,339,959
10$2,171,524$766,419$0$1,405,105
11$2,280,100$806,592$0$1,473,508
12$2,394,105$848,774$0$1,545,331
13$2,513,810$893,065$0$1,620,745
14$2,639,501$939,570$0$1,699,930
15$2,771,476$988,401$0$1,783,075
16$2,910,049$1,039,673$0$1,870,376
17$3,055,552$1,093,509$0$1,962,043
18$3,208,329$1,150,037$0$2,058,292
19$3,368,746$1,209,391$0$2,159,355
20$3,537,183$1,271,713$0$2,265,470
21$3,714,042$1,337,151$0$2,376,892
22$3,899,744$1,405,860$0$2,493,884
23$4,094,732$1,478,006$0$2,616,726
24$4,299,468$1,553,758$0$2,745,710
25$4,514,442$1,633,298$0$2,881,143
26$4,740,164$1,716,816$0$3,023,348
27$4,977,172$1,804,509$0$3,172,663
28$5,226,030$1,896,586$0$3,329,444
29$5,487,332$1,993,268$0$3,494,064
30$5,761,699$2,094,783$0$3,666,915
Total$93,000,000$33,298,652$0$59,701,351

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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.