USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $720,000,000 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:Fri, Jul 21, 2023
Jackpot:$720,000,000
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$10,837,033$3,967,890$0$6,869,143
2$11,378,885$4,168,375$0$7,210,510
3$11,947,829$4,378,884$0$7,568,945
4$12,545,221$4,599,920$0$7,945,301
5$13,172,481$4,832,006$0$8,340,476
6$13,831,106$5,075,697$0$8,755,409
7$14,522,661$5,331,572$0$9,191,089
8$15,248,794$5,600,242$0$9,648,553
9$16,011,234$5,882,344$0$10,128,890
10$16,811,796$6,178,552$0$10,633,243
11$17,652,385$6,489,570$0$11,162,815
12$18,535,005$6,816,139$0$11,718,865
13$19,461,755$7,159,037$0$12,302,718
14$20,434,843$7,519,080$0$12,915,763
15$21,456,585$7,897,124$0$13,559,461
16$22,529,414$8,294,071$0$14,235,343
17$23,655,884$8,710,865$0$14,945,019
18$24,838,679$9,148,499$0$15,690,180
19$26,080,613$9,608,014$0$16,472,598
20$27,384,643$10,090,506$0$17,294,138
21$28,753,875$10,597,122$0$18,156,754
22$30,191,569$11,129,068$0$19,062,501
23$31,701,148$11,687,612$0$20,013,535
24$33,286,205$12,274,084$0$21,012,121
25$34,950,515$12,889,878$0$22,060,637
26$36,698,041$13,536,463$0$23,161,578
27$38,532,943$14,215,377$0$24,317,567
28$40,459,590$14,928,236$0$25,531,354
29$42,482,570$15,676,739$0$26,805,831
30$44,606,699$16,462,666$0$28,144,032
Total$720,000,001$265,145,632$0$454,854,369

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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.