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Mega Millions Annuity Jackpot Analysis for Arizona (Oct. 16, 2018 Drawing)

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 $667,000,000 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:  Oct. 16, 2018
Jackpot:$667,000,000
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$10,039,307$2,409,434$602,358$7,027,515
2$10,541,273$2,529,905$632,476$7,378,891
3$11,068,336$2,656,401$664,100$7,747,835
4$11,621,753$2,789,221$697,305$8,135,227
5$12,202,840$2,928,682$732,170$8,541,988
6$12,812,983$3,075,116$768,779$8,969,088
7$13,453,632$3,228,872$807,218$9,417,542
8$14,126,314$3,390,315$847,579$9,888,420
9$14,832,629$3,559,831$889,958$10,382,840
10$15,574,261$3,737,823$934,456$10,901,982
11$16,352,974$3,924,714$981,178$11,447,082
12$17,170,622$4,120,949$1,030,237$12,019,436
13$18,029,153$4,326,997$1,081,749$12,620,407
14$18,930,611$4,543,347$1,135,837$13,251,428
15$19,877,142$4,770,514$1,192,628$13,913,999
16$20,870,999$5,009,040$1,252,260$14,609,699
17$21,914,548$5,259,492$1,314,873$15,340,184
18$23,010,276$5,522,466$1,380,617$16,107,193
19$24,160,790$5,798,590$1,449,647$16,912,553
20$25,368,829$6,088,519$1,522,130$17,758,181
21$26,637,271$6,392,945$1,598,236$18,646,089
22$27,969,134$6,712,592$1,678,148$19,578,394
23$29,367,591$7,048,222$1,762,055$20,557,314
24$30,835,970$7,400,633$1,850,158$21,585,179
25$32,377,769$7,770,665$1,942,666$22,664,438
26$33,996,658$8,159,198$2,039,799$23,797,660
27$35,696,491$8,567,158$2,141,789$24,987,543
28$37,481,315$8,995,516$2,248,879$26,236,920
29$39,355,381$9,445,291$2,361,323$27,548,766
30$41,323,150$9,917,556$2,479,389$28,926,205
Total$667,000,001$160,080,000$40,020,000$466,900,001
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