USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Jul 7, 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 $450,000,000 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 7, 2023
Jackpot:$450,000,000
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$6,773,146$2,464,252$0$4,308,894
2$7,111,803$2,589,555$0$4,522,248
3$7,467,393$2,721,123$0$4,746,270
4$7,840,763$2,859,270$0$4,981,493
5$8,232,801$3,004,324$0$5,228,477
6$8,644,441$3,156,631$0$5,487,810
7$9,076,663$3,316,553$0$5,760,110
8$9,530,496$3,484,471$0$6,046,025
9$10,007,021$3,660,786$0$6,346,236
10$10,507,372$3,845,915$0$6,661,457
11$11,032,741$4,040,302$0$6,992,439
12$11,584,378$4,244,408$0$7,339,970
13$12,163,597$4,458,719$0$7,704,878
14$12,771,777$4,683,745$0$8,088,032
15$13,410,365$4,920,023$0$8,490,342
16$14,080,884$5,168,115$0$8,912,769
17$14,784,928$5,428,611$0$9,356,317
18$15,524,174$5,702,132$0$9,822,042
19$16,300,383$5,989,329$0$10,311,053
20$17,115,402$6,290,887$0$10,824,516
21$17,971,172$6,607,521$0$11,363,651
22$18,869,731$6,939,988$0$11,929,743
23$19,813,217$7,289,078$0$12,524,139
24$20,803,878$7,655,623$0$13,148,255
25$21,844,072$8,040,494$0$13,803,578
26$22,936,276$8,444,610$0$14,491,666
27$24,083,090$8,868,931$0$15,214,159
28$25,287,244$9,314,468$0$15,972,776
29$26,551,606$9,782,282$0$16,769,324
30$27,879,187$10,273,487$0$17,605,700
Total$450,000,001$165,245,633$0$284,754,369

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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.