USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Aug 6, 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 $374,000,000 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 6, 2024
Jackpot:$374,000,000
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$5,629,237$2,041,005$0$3,588,231
2$5,910,699$2,145,146$0$3,765,552
3$6,206,233$2,254,494$0$3,951,739
4$6,516,545$2,369,310$0$4,147,236
5$6,842,372$2,489,865$0$4,352,507
6$7,184,491$2,616,449$0$4,568,042
7$7,543,716$2,749,363$0$4,794,353
8$7,920,901$2,888,921$0$5,031,980
9$8,316,947$3,035,458$0$5,281,489
10$8,732,794$3,189,321$0$5,543,472
11$9,169,434$3,350,878$0$5,818,555
12$9,627,905$3,520,513$0$6,107,393
13$10,109,300$3,698,629$0$6,410,672
14$10,614,766$3,885,651$0$6,729,115
15$11,145,504$4,082,024$0$7,063,480
16$11,702,779$4,288,216$0$7,414,563
17$12,287,918$4,504,717$0$7,783,200
18$12,902,314$4,732,044$0$8,170,270
19$13,547,429$4,970,737$0$8,576,693
20$14,224,801$5,221,364$0$9,003,437
21$14,936,041$5,484,523$0$9,451,518
22$15,682,843$5,760,840$0$9,922,003
23$16,466,985$6,050,972$0$10,416,013
24$17,290,334$6,355,611$0$10,934,723
25$18,154,851$6,675,483$0$11,479,368
26$19,062,594$7,011,347$0$12,051,246
27$20,015,723$7,364,005$0$12,651,718
28$21,016,509$7,734,296$0$13,282,213
29$22,067,335$8,123,102$0$13,944,233
30$23,170,702$8,531,347$0$14,639,354
Total$374,000,001$137,125,631$0$236,874,368

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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.