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Mega Millions Annuity Jackpot Analysis for Louisiana

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $67,000,000 would be for a resident of Louisiana, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Louisiana

Drawing Date:  Fri, Jul 25, 2014
Jackpot:$67,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$252,112$50,422$705,912
2$1,058,868$264,717$52,943$741,208
3$1,111,812$277,953$55,591$778,268
4$1,167,403$291,851$58,370$817,182
5$1,225,773$306,443$61,289$858,041
6$1,287,061$321,765$64,353$900,943
7$1,351,414$337,854$67,571$945,990
8$1,418,985$354,746$70,949$993,290
9$1,489,934$372,484$74,497$1,042,954
10$1,564,431$391,108$78,222$1,095,102
11$1,642,653$410,663$82,133$1,149,857
12$1,724,785$431,196$86,239$1,207,350
13$1,811,024$452,756$90,551$1,267,717
14$1,901,576$475,394$95,079$1,331,103
15$1,996,654$499,164$99,833$1,397,658
16$2,096,487$524,122$104,824$1,467,541
17$2,201,311$550,328$110,066$1,540,918
18$2,311,377$577,844$115,569$1,617,964
19$2,426,946$606,736$121,347$1,698,862
20$2,548,293$637,073$127,415$1,783,805
21$2,675,708$668,927$133,785$1,872,995
22$2,809,493$702,373$140,475$1,966,645
23$2,949,968$737,492$147,498$2,064,978
24$3,097,466$774,367$154,873$2,168,226
25$3,252,340$813,085$162,617$2,276,638
26$3,414,957$853,739$170,748$2,390,470
27$3,585,704$896,426$179,285$2,509,993
28$3,764,990$941,247$188,249$2,635,493
29$3,953,239$988,310$197,662$2,767,267
30$4,150,901$1,037,725$207,545$2,905,631
Total$67,000,000$16,750,000$3,350,000$46,900,000
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