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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 $194,000,000 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, May 22, 2015
Jackpot:$194,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,919,978$729,995$145,999$2,043,985
2$3,065,977$766,494$153,299$2,146,184
3$3,219,276$804,819$160,964$2,253,493
4$3,380,240$845,060$169,012$2,366,168
5$3,549,252$887,313$177,463$2,484,476
6$3,726,715$931,679$186,336$2,608,700
7$3,913,050$978,263$195,653$2,739,135
8$4,108,703$1,027,176$205,435$2,876,092
9$4,314,138$1,078,535$215,707$3,019,897
10$4,529,845$1,132,461$226,492$3,170,891
11$4,756,337$1,189,084$237,817$3,329,436
12$4,994,154$1,248,539$249,708$3,495,908
13$5,243,862$1,310,965$262,193$3,670,703
14$5,506,055$1,376,514$275,303$3,854,238
15$5,781,358$1,445,339$289,068$4,046,950
16$6,070,425$1,517,606$303,521$4,249,298
17$6,373,947$1,593,487$318,697$4,461,763
18$6,692,644$1,673,161$334,632$4,684,851
19$7,027,276$1,756,819$351,364$4,919,093
20$7,378,640$1,844,660$368,932$5,165,048
21$7,747,572$1,936,893$387,379$5,423,300
22$8,134,951$2,033,738$406,748$5,694,465
23$8,541,698$2,135,425$427,085$5,979,189
24$8,968,783$2,242,196$448,439$6,278,148
25$9,417,222$2,354,306$470,861$6,592,055
26$9,888,083$2,472,021$494,404$6,921,658
27$10,382,488$2,595,622$519,124$7,267,741
28$10,901,612$2,725,403$545,081$7,631,128
29$11,446,692$2,861,673$572,335$8,012,685
30$12,019,027$3,004,757$600,951$8,413,319
Total$194,000,000$48,500,000$9,700,000$135,800,000
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