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Mega Millions Annuity Jackpot Analysis for Arizona

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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 $177,000,000 would be for a resident of Arizona, 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:

Arizona

Drawing Date:  Tue, Jan 24, 2017
Jackpot:$177,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,664,104$666,026$133,205$1,864,873
2$2,797,309$699,327$139,865$1,958,116
3$2,937,175$734,294$146,859$2,056,022
4$3,084,033$771,008$154,202$2,158,823
5$3,238,235$809,559$161,912$2,266,765
6$3,400,147$850,037$170,007$2,380,103
7$3,570,154$892,539$178,508$2,499,108
8$3,748,662$937,165$187,433$2,624,063
9$3,936,095$984,024$196,805$2,755,267
10$4,132,900$1,033,225$206,645$2,893,030
11$4,339,545$1,084,886$216,977$3,037,681
12$4,556,522$1,139,130$227,826$3,189,565
13$4,784,348$1,196,087$239,217$3,349,044
14$5,023,566$1,255,891$251,178$3,516,496
15$5,274,744$1,318,686$263,737$3,692,321
16$5,538,481$1,384,620$276,924$3,876,937
17$5,815,405$1,453,851$290,770$4,070,783
18$6,106,175$1,526,544$305,309$4,274,323
19$6,411,484$1,602,871$320,574$4,488,039
20$6,732,058$1,683,015$336,603$4,712,441
21$7,068,661$1,767,165$353,433$4,948,063
22$7,422,094$1,855,524$371,105$5,195,466
23$7,793,199$1,948,300$389,660$5,455,239
24$8,182,859$2,045,715$409,143$5,728,001
25$8,592,002$2,148,000$429,600$6,014,401
26$9,021,602$2,255,400$451,080$6,315,121
27$9,472,682$2,368,170$473,634$6,630,877
28$9,946,316$2,486,579$497,316$6,962,421
29$10,443,632$2,610,908$522,182$7,310,542
30$10,965,813$2,741,453$548,291$7,676,069
Total$177,000,000$44,250,000$8,850,000$123,900,000
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