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Mega Millions Annuity Jackpot Analysis for Arizona

For an out-of-state resident

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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 $245,000,000 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, Feb 26, 2019
Jackpot:$245,000,000
Federal Tax:  24%
State Tax:6.00% (For an out-of-state resident)
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,687,602$885,024$221,256$2,581,321
2$3,871,982$929,276$232,319$2,710,387
3$4,065,581$975,739$243,935$2,845,907
4$4,268,860$1,024,526$256,132$2,988,202
5$4,482,303$1,075,753$268,938$3,137,612
6$4,706,418$1,129,540$282,385$3,294,493
7$4,941,739$1,186,017$296,504$3,459,217
8$5,188,826$1,245,318$311,330$3,632,178
9$5,448,267$1,307,584$326,896$3,813,787
10$5,720,680$1,372,963$343,241$4,004,476
11$6,006,714$1,441,611$360,403$4,204,700
12$6,307,050$1,513,692$378,423$4,414,935
13$6,622,403$1,589,377$397,344$4,635,682
14$6,953,523$1,668,845$417,211$4,867,466
15$7,301,199$1,752,288$438,072$5,110,839
16$7,666,259$1,839,902$459,976$5,366,381
17$8,049,572$1,931,897$482,974$5,634,700
18$8,452,050$2,028,492$507,123$5,916,435
19$8,874,653$2,129,917$532,479$6,212,257
20$9,318,386$2,236,413$559,103$6,522,870
21$9,784,305$2,348,233$587,058$6,849,013
22$10,273,520$2,465,645$616,411$7,191,464
23$10,787,196$2,588,927$647,232$7,551,037
24$11,326,556$2,718,373$679,593$7,928,589
25$11,892,884$2,854,292$713,573$8,325,019
26$12,487,528$2,997,007$749,252$8,741,270
27$13,111,904$3,146,857$786,714$9,178,333
28$13,767,499$3,304,200$826,050$9,637,250
29$14,455,874$3,469,410$867,352$10,119,112
30$15,178,668$3,642,880$910,720$10,625,068
Total$245,000,000$58,800,000$14,700,000$171,500,000
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