USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Feb 27, 2024

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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 $563,000,000 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, Feb 27, 2024
Jackpot:$563,000,000
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$8,473,958$3,093,552$0$5,380,406
2$8,897,656$3,250,320$0$5,647,335
3$9,342,539$3,414,927$0$5,927,612
4$9,809,666$3,587,764$0$6,221,902
5$10,300,149$3,769,243$0$6,530,906
6$10,815,156$3,959,796$0$6,855,361
7$11,355,914$4,159,876$0$7,196,038
8$11,923,710$4,369,960$0$7,553,750
9$12,519,895$4,590,549$0$7,929,346
10$13,145,890$4,822,167$0$8,323,723
11$13,803,185$5,065,366$0$8,737,819
12$14,493,344$5,320,725$0$9,172,619
13$15,218,011$5,588,852$0$9,629,159
14$15,978,912$5,870,385$0$10,108,527
15$16,777,857$6,165,995$0$10,611,862
16$17,616,750$6,476,385$0$11,140,365
17$18,497,587$6,802,295$0$11,695,292
18$19,422,467$7,144,501$0$12,277,966
19$20,393,590$7,503,816$0$12,889,774
20$21,413,270$7,881,098$0$13,532,172
21$22,483,933$8,277,243$0$14,206,690
22$23,608,130$8,693,196$0$14,914,934
23$24,788,536$9,129,946$0$15,658,590
24$26,027,963$9,588,534$0$16,439,429
25$27,329,361$10,070,051$0$17,259,310
26$28,695,830$10,575,645$0$18,120,185
27$30,130,621$11,106,518$0$19,024,104
28$31,637,152$11,663,934$0$19,973,218
29$33,219,009$12,249,221$0$20,969,788
30$34,879,960$12,863,773$0$22,016,187
Total$563,000,001$207,055,633$0$355,944,369

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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.