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Texas Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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The tax information provided here is based on 2025 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 $45,000,000 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:Tue, Oct 25, 2022
Jackpot:$45,000,000
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$677,315$207,627$0$469,688
2$711,180$220,157$0$491,023
3$746,739$233,314$0$513,426
4$784,076$247,128$0$536,948
5$823,280$261,634$0$561,646
6$864,444$276,865$0$587,580
7$907,666$292,857$0$614,810
8$953,050$309,649$0$643,401
9$1,000,702$327,280$0$673,422
10$1,050,737$345,793$0$704,944
11$1,103,274$365,232$0$738,042
12$1,158,438$385,642$0$772,796
13$1,216,360$407,073$0$809,286
14$1,277,178$429,576$0$847,602
15$1,341,037$453,204$0$887,833
16$1,408,088$478,013$0$930,075
17$1,478,493$504,063$0$974,430
18$1,552,417$531,415$0$1,021,003
19$1,630,038$560,134$0$1,069,904
20$1,711,540$590,290$0$1,121,250
21$1,797,117$621,954$0$1,175,164
22$1,886,973$655,200$0$1,231,773
23$1,981,322$690,109$0$1,291,212
24$2,080,388$726,764$0$1,353,624
25$2,184,407$765,251$0$1,419,156
26$2,293,628$805,662$0$1,487,965
27$2,408,309$848,095$0$1,560,214
28$2,528,724$892,648$0$1,636,076
29$2,655,161$939,430$0$1,715,731
30$2,787,919$988,550$0$1,799,369
Total$45,000,000$15,360,609$0$29,639,393

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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.