Mega Millions Annuity Payment Schedule

Here's how the current Mega Millions jackpot will be paid if the annuity option is selected.

Current Mega Millions jackpot

Tuesday, Mar 18, 2025

$301,000,000

Federal tax

Select your filing status.

-$72,240,000

State tax

Select your state.

-$14,448,000

Net jackpot after tax

$214,312,000

Payment Number

Gross Payment

State Tax for AZ

Federal Tax

Net Payment

1 $4,530,482 $217,463 $1,087,316 $3,225,703
2 $4,757,006 $228,336 $1,141,681 $3,386,988
3 $4,994,856 $239,753 $1,198,766 $3,556,338
4 $5,244,599 $251,741 $1,258,704 $3,734,155
5 $5,506,829 $264,328 $1,321,639 $3,920,862
6 $5,782,171 $277,544 $1,387,721 $4,116,905
7 $6,071,279 $291,421 $1,457,107 $4,322,751
8 $6,374,843 $305,992 $1,529,962 $4,538,888
9 $6,693,585 $321,292 $1,606,460 $4,765,833
10 $7,028,265 $337,357 $1,686,783 $5,004,124
11 $7,379,678 $354,225 $1,771,123 $5,254,331
12 $7,748,662 $371,936 $1,859,679 $5,517,047
13 $8,136,095 $390,533 $1,952,663 $5,792,899
14 $8,542,899 $410,059 $2,050,296 $6,082,544
15 $8,970,044 $430,562 $2,152,811 $6,386,672
16 $9,418,547 $452,090 $2,260,451 $6,706,005
17 $9,889,474 $474,695 $2,373,474 $7,041,305
18 $10,383,948 $498,429 $2,492,147 $7,393,371
19 $10,903,145 $523,351 $2,616,755 $7,763,039
20 $11,448,302 $549,519 $2,747,593 $8,151,191
21 $12,020,717 $576,994 $2,884,972 $8,558,751
22 $12,621,753 $605,844 $3,029,221 $8,986,688
23 $13,252,841 $636,136 $3,180,682 $9,436,023
24 $13,915,483 $667,943 $3,339,716 $9,907,824
25 $14,611,257 $701,340 $3,506,702 $10,403,215
26 $15,341,820 $736,407 $3,682,037 $10,923,376
27 $16,108,911 $773,228 $3,866,139 $11,469,545
28 $16,914,357 $811,889 $4,059,446 $12,043,022
29 $17,760,074 $852,484 $4,262,418 $12,645,173
30 $18,648,078 $895,108 $4,475,539 $13,277,432
Total $301,000,000 $14,448,000 $72,240,000 $214,312,000

Notes

  • Each annual annuity payment increases by 5% from the previous year.
  • For clarity, we assumed that payments 1 and 2 are made in separate tax years.
  • The lottery automatically withholds 24% of each payment for federal taxes. When you file your taxes, you will be responsible for the difference between that withholding and what you owe to the IRS.
  • In some states, the lottery also withholds a portion of annual payments for state taxes.
  • The highest federal tax bracket of 37% is assumed for these examples because all Mega Millions jackpot winners will fall into this category.
  • Tax estimates are based on jackpot income only and do not include any other taxes you may owe.
  • We assume single state residency only and do not consider non-state resident tax. In the situation when the winner resides in a different state than the one where the winnings were registered, additional state taxes may be added.
  • This calculator is intended to provide an estimate of taxes, but should not be considered tax advice. We do not take responsibility for any inaccuracies or omissions.
  • Consult with a professional tax advisor and accountant to avoid any surprise tax bills.
  • Federal and/or state tax rates may change during the annuity schedule, which could affect how much you owe.