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Mega Millions Annuity Jackpot Analysis for Arizona (Oct. 30, 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 $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:6.00% (For an out-of-state resident)
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$40,639$474,120
2$711,180$170,683$42,671$497,826
3$746,739$179,217$44,804$522,718
4$784,076$188,178$47,045$548,853
5$823,280$197,587$49,397$576,296
6$864,444$207,467$51,867$605,111
7$907,666$217,840$54,460$635,366
8$953,050$228,732$57,183$667,135
9$1,000,702$240,169$60,042$700,491
10$1,050,737$252,177$63,044$735,516
11$1,103,274$264,786$66,196$772,292
12$1,158,438$278,025$69,506$810,906
13$1,216,360$291,926$72,982$851,452
14$1,277,178$306,523$76,631$894,024
15$1,341,037$321,849$80,462$938,726
16$1,408,088$337,941$84,485$985,662
17$1,478,493$354,838$88,710$1,034,945
18$1,552,417$372,580$93,145$1,086,692
19$1,630,038$391,209$97,802$1,141,027
20$1,711,540$410,770$102,692$1,198,078
21$1,797,117$431,308$107,827$1,257,982
22$1,886,973$452,874$113,218$1,320,881
23$1,981,322$475,517$118,879$1,386,925
24$2,080,388$499,293$124,823$1,456,271
25$2,184,407$524,258$131,064$1,529,085
26$2,293,628$550,471$137,618$1,605,539
27$2,408,309$577,994$144,499$1,685,816
28$2,528,724$606,894$151,723$1,770,107
29$2,655,161$637,239$159,310$1,858,612
30$2,787,919$669,100$167,275$1,951,543
Total$45,000,000$10,800,000$2,700,000$31,500,000
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