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Texas Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 2023

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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 $101,000,000 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, Sep 5, 2023
Jackpot:$101,000,000
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$1,520,195$520,660$0$999,535
2$1,596,205$548,783$0$1,047,421
3$1,676,015$578,313$0$1,097,702
4$1,759,816$609,320$0$1,150,496
5$1,847,806$641,876$0$1,205,930
6$1,940,197$676,061$0$1,264,136
7$2,037,207$711,954$0$1,325,252
8$2,139,067$749,643$0$1,389,424
9$2,246,020$789,215$0$1,456,805
10$2,358,321$830,767$0$1,527,555
11$2,476,237$874,396$0$1,601,842
12$2,600,049$920,206$0$1,679,843
13$2,730,052$968,307$0$1,761,745
14$2,866,554$1,018,813$0$1,847,741
15$3,009,882$1,071,844$0$1,938,038
16$3,160,376$1,127,527$0$2,032,849
17$3,318,395$1,185,994$0$2,132,401
18$3,484,315$1,247,384$0$2,236,930
19$3,658,530$1,311,844$0$2,346,686
20$3,841,457$1,379,527$0$2,461,930
21$4,033,530$1,450,594$0$2,582,936
22$4,235,206$1,525,214$0$2,709,992
23$4,446,967$1,603,565$0$2,843,401
24$4,669,315$1,685,834$0$2,983,481
25$4,902,781$1,772,217$0$3,130,564
26$5,147,920$1,862,918$0$3,285,002
27$5,405,316$1,958,155$0$3,447,161
28$5,675,581$2,058,153$0$3,617,429
29$5,959,360$2,163,151$0$3,796,209
30$6,257,329$2,273,399$0$3,983,929
Total$101,000,000$36,115,634$0$64,884,365

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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.