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Mega Millions Annuity Jackpot Analysis for Arizona (Oct. 30, 2018 Drawing)

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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 $45,000,000 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. 30, 2018
Jackpot:$45,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$33,866$480,893
2$711,180$170,683$35,559$504,938
3$746,739$179,217$37,337$530,185
4$784,076$188,178$39,204$556,694
5$823,280$197,587$41,164$584,529
6$864,444$207,467$43,222$613,755
7$907,666$217,840$45,383$644,443
8$953,050$228,732$47,652$676,665
9$1,000,702$240,169$50,035$710,499
10$1,050,737$252,177$52,537$746,023
11$1,103,274$264,786$55,164$783,325
12$1,158,438$278,025$57,922$822,491
13$1,216,360$291,926$60,818$863,615
14$1,277,178$306,523$63,859$906,796
15$1,341,037$321,849$67,052$952,136
16$1,408,088$337,941$70,404$999,743
17$1,478,493$354,838$73,925$1,049,730
18$1,552,417$372,580$77,621$1,102,216
19$1,630,038$391,209$81,502$1,157,327
20$1,711,540$410,770$85,577$1,215,194
21$1,797,117$431,308$89,856$1,275,953
22$1,886,973$452,874$94,349$1,339,751
23$1,981,322$475,517$99,066$1,406,738
24$2,080,388$499,293$104,019$1,477,075
25$2,184,407$524,258$109,220$1,550,929
26$2,293,628$550,471$114,681$1,628,476
27$2,408,309$577,994$120,415$1,709,899
28$2,528,724$606,894$126,436$1,795,394
29$2,655,161$637,239$132,758$1,885,164
30$2,787,919$669,100$139,396$1,979,422
Total$45,000,000$10,800,000$2,250,000$31,950,000
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