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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 $76,000,000 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:  Fri, Aug 26, 2016
Jackpot:$76,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,143,909$285,977$57,195$800,736
2$1,201,105$300,276$60,055$840,773
3$1,261,160$315,290$63,058$882,812
4$1,324,218$331,054$66,211$926,952
5$1,390,429$347,607$69,521$973,300
6$1,459,950$364,988$72,998$1,021,965
7$1,532,948$383,237$76,647$1,073,063
8$1,609,595$402,399$80,480$1,126,716
9$1,690,075$422,519$84,504$1,183,052
10$1,774,578$443,645$88,729$1,242,205
11$1,863,307$465,827$93,165$1,304,315
12$1,956,473$489,118$97,824$1,369,531
13$2,054,296$513,574$102,715$1,438,007
14$2,157,011$539,253$107,851$1,509,908
15$2,264,862$566,215$113,243$1,585,403
16$2,378,105$594,526$118,905$1,664,673
17$2,497,010$624,253$124,851$1,747,907
18$2,621,861$655,465$131,093$1,835,302
19$2,752,954$688,238$137,648$1,927,067
20$2,890,601$722,650$144,530$2,023,421
21$3,035,131$758,783$151,757$2,124,592
22$3,186,888$796,722$159,344$2,230,822
23$3,346,232$836,558$167,312$2,342,363
24$3,513,544$878,386$175,677$2,459,481
25$3,689,221$922,305$184,461$2,582,455
26$3,873,682$968,421$193,684$2,711,578
27$4,067,366$1,016,842$203,368$2,847,156
28$4,270,735$1,067,684$213,537$2,989,514
29$4,484,271$1,121,068$224,214$3,138,990
30$4,708,485$1,177,121$235,424$3,295,939
Total$76,000,000$19,000,000$3,800,000$53,200,000
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