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Mega Millions Annuity Jackpot Analysis for Arizona (Apr. 14, 2020 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 $145,000,000 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:  Apr. 14, 2020
Jackpot:$145,000,000
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$2,182,458$523,790$130,947$1,527,721
2$2,291,581$549,979$137,495$1,604,107
3$2,406,160$577,478$144,370$1,684,312
4$2,526,468$606,352$151,588$1,768,528
5$2,652,791$636,670$159,167$1,856,954
6$2,785,431$668,503$167,126$1,949,802
7$2,924,703$701,929$175,482$2,047,292
8$3,070,938$737,025$184,256$2,149,656
9$3,224,485$773,876$193,469$2,257,139
10$3,385,709$812,570$203,143$2,369,996
11$3,554,994$853,199$213,300$2,488,496
12$3,732,744$895,859$223,965$2,612,921
13$3,919,381$940,651$235,163$2,743,567
14$4,115,350$987,684$246,921$2,880,745
15$4,321,118$1,037,068$259,267$3,024,782
16$4,537,174$1,088,922$272,230$3,176,022
17$4,764,032$1,143,368$285,842$3,334,823
18$5,002,234$1,200,536$300,134$3,501,564
19$5,252,346$1,260,563$315,141$3,676,642
20$5,514,963$1,323,591$330,898$3,860,474
21$5,790,711$1,389,771$347,443$4,053,498
22$6,080,247$1,459,259$364,815$4,256,173
23$6,384,259$1,532,222$383,056$4,468,981
24$6,703,472$1,608,833$402,208$4,692,430
25$7,038,645$1,689,275$422,319$4,927,052
26$7,390,578$1,773,739$443,435$5,173,404
27$7,760,107$1,862,426$465,606$5,432,075
28$8,148,112$1,955,547$488,887$5,703,678
29$8,555,518$2,053,324$513,331$5,988,862
30$8,983,293$2,155,990$538,998$6,288,305
Total$145,000,000$34,800,000$8,700,000$101,500,000
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