USA Mega

Texas Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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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 $31,000,000 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, Jan 31, 2023
Jackpot:$31,000,000
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$466,594$132,855$0$333,739
2$489,924$141,021$0$348,903
3$514,420$149,594$0$364,826
4$540,141$158,597$0$381,545
5$567,149$168,049$0$399,099
6$595,506$177,974$0$417,532
7$625,281$188,396$0$436,886
8$656,545$199,942$0$456,603
9$689,373$212,088$0$477,284
10$723,841$224,841$0$499,000
11$760,033$238,233$0$521,801
12$798,035$252,293$0$545,742
13$837,937$267,057$0$570,880
14$879,834$282,559$0$597,275
15$923,825$298,836$0$624,990
16$970,016$315,926$0$654,090
17$1,018,517$333,872$0$684,646
18$1,069,443$352,714$0$716,729
19$1,122,915$372,499$0$750,416
20$1,179,061$393,273$0$785,788
21$1,238,014$415,085$0$822,929
22$1,299,915$437,989$0$861,926
23$1,364,911$462,037$0$902,873
24$1,433,156$487,288$0$945,868
25$1,504,814$513,801$0$991,012
26$1,580,055$541,640$0$1,038,414
27$1,659,057$570,871$0$1,088,186
28$1,742,010$601,564$0$1,140,446
29$1,829,111$633,791$0$1,195,319
30$1,920,566$667,630$0$1,252,936
Total$31,000,000$10,192,315$0$20,807,683

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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.