USA Mega

Texas Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 2014

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

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 $33,000,000 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, Sep 5, 2014
Jackpot:$33,000,000
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$496,697$144,219$0$352,479
2$521,532$152,911$0$368,621
3$547,609$162,038$0$385,571
4$574,989$171,621$0$403,368
5$603,739$181,683$0$422,055
6$633,926$192,740$0$441,185
7$665,622$204,468$0$461,154
8$698,903$216,782$0$482,121
9$733,848$229,712$0$504,137
10$770,541$243,288$0$527,253
11$809,068$257,543$0$551,525
12$849,521$272,511$0$577,011
13$891,997$288,227$0$603,770
14$936,597$304,729$0$631,868
15$983,427$322,056$0$661,371
16$1,032,598$340,249$0$692,349
17$1,084,228$359,352$0$724,876
18$1,138,439$379,410$0$759,029
19$1,195,361$400,471$0$794,890
20$1,255,129$422,586$0$832,544
21$1,317,886$445,806$0$872,080
22$1,383,780$470,186$0$913,594
23$1,452,969$495,786$0$957,183
24$1,525,618$522,666$0$1,002,951
25$1,601,899$550,890$0$1,051,008
26$1,681,994$580,525$0$1,101,468
27$1,766,093$611,642$0$1,154,451
28$1,854,398$644,315$0$1,210,083
29$1,947,118$678,621$0$1,268,496
30$2,044,474$714,643$0$1,329,831
Total$33,000,000$10,961,676$0$22,038,322

◄ 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.