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Mega Millions Annuity Jackpot Analysis for Arizona (May. 25, 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 $73,000,000 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:  May. 25, 2018
Jackpot:$73,000,000
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$1,098,755$263,701$65,925$769,128
2$1,153,693$276,886$69,222$807,585
3$1,211,377$290,731$72,683$847,964
4$1,271,946$305,267$76,317$890,362
5$1,335,543$320,530$80,133$934,880
6$1,402,320$336,557$84,139$981,624
7$1,472,436$353,385$88,346$1,030,706
8$1,546,058$371,054$92,763$1,082,241
9$1,623,361$389,607$97,402$1,136,353
10$1,704,529$409,087$102,272$1,193,170
11$1,789,756$429,541$107,385$1,252,829
12$1,879,244$451,018$112,755$1,315,470
13$1,973,206$473,569$118,392$1,381,244
14$2,071,866$497,248$124,312$1,450,306
15$2,175,459$522,110$130,528$1,522,821
16$2,284,232$548,216$137,054$1,598,963
17$2,398,444$575,627$143,907$1,678,911
18$2,518,366$604,408$151,102$1,762,856
19$2,644,284$634,628$158,657$1,850,999
20$2,776,499$666,360$166,590$1,943,549
21$2,915,323$699,678$174,919$2,040,726
22$3,061,090$734,662$183,665$2,142,763
23$3,214,144$771,395$192,849$2,249,901
24$3,374,851$809,964$202,491$2,362,396
25$3,543,594$850,463$212,616$2,480,516
26$3,720,774$892,986$223,246$2,604,542
27$3,906,812$937,635$234,409$2,734,769
28$4,102,153$984,517$246,129$2,871,507
29$4,307,261$1,033,743$258,436$3,015,082
30$4,522,624$1,085,430$271,357$3,165,837
Total$73,000,000$17,520,000$4,380,000$51,100,000
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