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, Feb 18, 2025
$145,000,000
Federal tax
Select your filing status.
-$34,800,000State tax
Select your state.
-$6,960,000Net jackpot after tax
$103,240,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $2,182,458 | $104,758 | $523,790 | $1,553,910 |
| 2 | $2,291,581 | $109,996 | $549,979 | $1,631,606 |
| 3 | $2,406,160 | $115,496 | $577,478 | $1,713,186 |
| 4 | $2,526,468 | $121,270 | $606,352 | $1,798,845 |
| 5 | $2,652,791 | $127,334 | $636,670 | $1,888,788 |
| 6 | $2,785,431 | $133,701 | $668,503 | $1,983,227 |
| 7 | $2,924,703 | $140,386 | $701,929 | $2,082,388 |
| 8 | $3,070,938 | $147,405 | $737,025 | $2,186,508 |
| 9 | $3,224,485 | $154,775 | $773,876 | $2,295,833 |
| 10 | $3,385,709 | $162,514 | $812,570 | $2,410,625 |
| 11 | $3,554,994 | $170,640 | $853,199 | $2,531,156 |
| 12 | $3,732,744 | $179,172 | $895,859 | $2,657,714 |
| 13 | $3,919,381 | $188,130 | $940,651 | $2,790,599 |
| 14 | $4,115,350 | $197,537 | $987,684 | $2,930,129 |
| 15 | $4,321,118 | $207,414 | $1,037,068 | $3,076,636 |
| 16 | $4,537,174 | $217,784 | $1,088,922 | $3,230,468 |
| 17 | $4,764,032 | $228,674 | $1,143,368 | $3,391,991 |
| 18 | $5,002,234 | $240,107 | $1,200,536 | $3,561,591 |
| 19 | $5,252,346 | $252,113 | $1,260,563 | $3,739,670 |
| 20 | $5,514,963 | $264,718 | $1,323,591 | $3,926,654 |
| 21 | $5,790,711 | $277,954 | $1,389,771 | $4,122,986 |
| 22 | $6,080,247 | $291,852 | $1,459,259 | $4,329,136 |
| 23 | $6,384,259 | $306,444 | $1,532,222 | $4,545,592 |
| 24 | $6,703,472 | $321,767 | $1,608,833 | $4,772,872 |
| 25 | $7,038,645 | $337,855 | $1,689,275 | $5,011,516 |
| 26 | $7,390,578 | $354,748 | $1,773,739 | $5,262,091 |
| 27 | $7,760,107 | $372,485 | $1,862,426 | $5,525,196 |
| 28 | $8,148,112 | $391,109 | $1,955,547 | $5,801,456 |
| 29 | $8,555,518 | $410,665 | $2,053,324 | $6,091,528 |
| 30 | $8,983,293 | $431,198 | $2,155,990 | $6,396,105 |
| Total | $145,000,000 | $6,960,000 | $34,800,000 | $103,240,000 |
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.
