USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Aug 20, 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 $498,000,000 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, Aug 20, 2024
Jackpot:$498,000,000
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$7,495,615$2,731,565$0$4,764,049
2$7,870,395$2,870,234$0$5,000,161
3$8,263,915$3,015,836$0$5,248,079
4$8,677,111$3,168,719$0$5,508,392
5$9,110,966$3,329,245$0$5,781,721
6$9,566,515$3,497,798$0$6,068,717
7$10,044,841$3,674,779$0$6,370,062
8$10,547,083$3,860,608$0$6,686,474
9$11,074,437$4,055,729$0$7,018,707
10$11,628,159$4,260,606$0$7,367,552
11$12,209,567$4,475,727$0$7,733,839
12$12,820,045$4,701,604$0$8,118,441
13$13,461,047$4,938,775$0$8,522,272
14$14,134,100$5,187,805$0$8,946,295
15$14,840,804$5,449,285$0$9,391,519
16$15,582,845$5,723,840$0$9,859,004
17$16,361,987$6,012,123$0$10,349,864
18$17,180,086$6,314,820$0$10,865,267
19$18,039,090$6,632,651$0$11,406,439
20$18,941,045$6,966,374$0$11,974,671
21$19,888,097$7,316,784$0$12,571,313
22$20,882,502$7,684,714$0$13,197,789
23$21,926,627$8,071,040$0$13,855,587
24$23,022,958$8,476,682$0$14,546,276
25$24,174,106$8,902,607$0$15,271,499
26$25,382,812$9,349,828$0$16,032,984
27$26,651,953$9,819,410$0$16,832,542
28$27,984,550$10,312,471$0$17,672,079
29$29,383,777$10,830,185$0$18,553,592
30$30,852,967$11,373,785$0$19,479,181
Total$498,000,001$183,005,629$0$314,994,367

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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.