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

YearGross PaymentFederal TaxesState TaxesNet Payment
1$451,543$112,886$22,577$316,080
2$474,120$118,530$23,706$331,884
3$497,826$124,457$24,891$348,478
4$522,718$130,679$26,136$365,902
5$548,853$137,213$27,443$384,197
6$576,296$144,074$28,815$403,407
7$605,111$151,278$30,256$423,578
8$635,366$158,842$31,768$444,757
9$667,135$166,784$33,357$466,994
10$700,491$175,123$35,025$490,344
11$735,516$183,879$36,776$514,861
12$772,292$193,073$38,615$540,604
13$810,906$202,727$40,545$567,635
14$851,452$212,863$42,573$596,016
15$894,024$223,506$44,701$625,817
16$938,726$234,681$46,936$657,108
17$985,662$246,415$49,283$689,963
18$1,034,945$258,736$51,747$724,461
19$1,086,692$271,673$54,335$760,685
20$1,141,027$285,257$57,051$798,719
21$1,198,078$299,520$59,904$838,655
22$1,257,982$314,496$62,899$880,587
23$1,320,881$330,220$66,044$924,617
24$1,386,925$346,731$69,346$970,848
25$1,456,271$364,068$72,814$1,019,390
26$1,529,085$382,271$76,454$1,070,360
27$1,605,539$401,385$80,277$1,123,878
28$1,685,816$421,454$84,291$1,180,071
29$1,770,107$442,527$88,505$1,239,075
30$1,858,612$464,653$92,931$1,301,029
Total$30,000,000$7,500,000$1,500,000$21,000,000
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