Mega Millions Annuity Payments
Sold in 46 jurisdictions Drawn every Tuesday and Friday at 11:00 PM ET $5 a play
A Mega Millions jackpot paid as an annuity is one payment right away and 29 yearly payments, each 5% bigger than the one before. Here is every payment for the next $385 Million jackpot.
Mega Millions · Next draw Tue, Oct 13, 11:00 PM ET
$385 Million
Cash value $155M · Draw in soon
- First payment$5.8M$3.7M after federal tax
- Last payment$23.9Myear 30
- Total$385M$243M after federal tax
- Cash instead$155M40% of the jackpot, at once
Payments by year
Millions of dollars per payment, before taxes.
All 30 payments
| Payment | Year | Before taxes | After 37% federal |
|---|---|---|---|
| 1 | 2026 | $5,794,802.51 | $3,650,725.58 |
| 2 | 2027 | $6,084,542.63 | $3,833,261.86 |
| 3 | 2028 | $6,388,769.76 | $4,024,924.95 |
| 4 | 2029 | $6,708,208.25 | $4,226,171.20 |
| 5 | 2030 | $7,043,618.66 | $4,437,479.76 |
| 6 | 2031 | $7,395,799.60 | $4,659,353.75 |
| 7 | 2032 | $7,765,589.58 | $4,892,321.44 |
| 8 | 2033 | $8,153,869.06 | $5,136,937.51 |
| 9 | 2034 | $8,561,562.51 | $5,393,784.38 |
| 10 | 2035 | $8,989,640.63 | $5,663,473.60 |
| 11 | 2036 | $9,439,122.67 | $5,946,647.28 |
| 12 | 2037 | $9,911,078.80 | $6,243,979.64 |
| 13 | 2038 | $10,406,632.74 | $6,556,178.63 |
| 14 | 2039 | $10,926,964.38 | $6,883,987.56 |
| 15 | 2040 | $11,473,312.59 | $7,228,186.93 |
| 16 | 2041 | $12,046,978.22 | $7,589,596.28 |
| 17 | 2042 | $12,649,327.13 | $7,969,076.09 |
| 18 | 2043 | $13,281,793.49 | $8,367,529.90 |
| 19 | 2044 | $13,945,883.17 | $8,785,906.40 |
| 20 | 2045 | $14,643,177.32 | $9,225,201.71 |
| 21 | 2046 | $15,375,336.19 | $9,686,461.80 |
| 22 | 2047 | $16,144,103 | $10,170,784.89 |
| 23 | 2048 | $16,951,308.15 | $10,679,324.13 |
| 24 | 2049 | $17,798,873.56 | $11,213,290.34 |
| 25 | 2050 | $18,688,817.24 | $11,773,954.86 |
| 26 | 2051 | $19,623,258.10 | $12,362,652.60 |
| 27 | 2052 | $20,604,421 | $12,980,785.23 |
| 28 | 2053 | $21,634,642.05 | $13,629,824.49 |
| 29 | 2054 | $22,716,374.16 | $14,311,315.72 |
| 30 | 2055 | $23,852,192.86 | $15,026,881.50 |
Estimate: the first payment is made when the prize is claimed, then one a year. State tax comes on top in most states: lottery tax by state.
Cash or annuity after your state's taxes: Mega Millions payout calculator
Questions
How much is the first payment of the $385 Million Mega Millions annuity?
$5,794,802.51 before taxes, about $3,650,725.58 after 37% federal tax. Each later payment is 5% bigger, up to $23,852,192.86 in year 30.
Is the annuity or the cash option better?
The cash value ($155 Million, 40% of the jackpot) is paid at once; the annuity pays the full $385 Million over 30 years. Most winners take the cash. It depends on taxes, your age and how you would invest it: ask a financial adviser.
What happens to the annuity if the winner dies?
The remaining payments go to the winner's estate. Ask the lottery that pays the prize how it handles this in your state.