USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 2022

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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 $87,000,000 for a ticket purchased in Washington, 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:

Washington

Drawing Date:Tue, Nov 1, 2022
Jackpot:$87,000,000
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$1,309,475$442,693$0$866,781
2$1,374,949$466,919$0$908,030
3$1,443,696$492,355$0$951,341
4$1,515,881$519,064$0$996,817
5$1,591,675$547,107$0$1,044,567
6$1,671,259$576,553$0$1,094,705
7$1,754,822$607,472$0$1,147,350
8$1,842,563$639,936$0$1,202,627
9$1,934,691$674,023$0$1,260,667
10$2,031,425$709,815$0$1,321,610
11$2,132,997$747,396$0$1,385,600
12$2,239,646$786,857$0$1,452,789
13$2,351,629$828,290$0$1,523,338
14$2,469,210$871,796$0$1,597,415
15$2,592,671$917,476$0$1,675,195
16$2,722,304$965,440$0$1,756,864
17$2,858,419$1,015,803$0$1,842,616
18$3,001,340$1,068,684$0$1,932,657
19$3,151,407$1,124,208$0$2,027,199
20$3,308,978$1,182,510$0$2,126,468
21$3,474,427$1,243,726$0$2,230,701
22$3,648,148$1,308,002$0$2,340,145
23$3,830,555$1,375,493$0$2,455,062
24$4,022,083$1,446,358$0$2,575,725
25$4,223,187$1,520,767$0$2,702,420
26$4,434,347$1,598,896$0$2,835,451
27$4,656,064$1,680,931$0$2,975,133
28$4,888,867$1,767,069$0$3,121,799
29$5,133,311$1,857,513$0$3,275,798
30$5,389,976$1,952,479$0$3,437,497
Total$87,000,000$30,935,631$0$56,064,367

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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.