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.
-$72,240,000State tax
Select your state.
-$14,448,000Net 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.
