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Mega Millions Annuity Jackpot Analysis for Arizona (Aug. 7, 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 $55,000,000 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:  Aug. 7, 2018
Jackpot:$55,000,000
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$827,829$198,679$49,670$579,480
2$869,220$208,613$52,153$608,454
3$912,681$219,044$54,761$638,877
4$958,315$229,996$57,499$670,821
5$1,006,231$241,495$60,374$704,362
6$1,056,543$253,570$63,393$739,580
7$1,109,370$266,249$66,562$776,559
8$1,164,838$279,561$69,890$815,387
9$1,223,080$293,539$73,385$856,156
10$1,284,234$308,216$77,054$898,964
11$1,348,446$323,627$80,907$943,912
12$1,415,868$339,808$84,952$991,108
13$1,486,662$356,799$89,200$1,040,663
14$1,560,995$374,639$93,660$1,092,696
15$1,639,045$393,371$98,343$1,147,331
16$1,720,997$413,039$103,260$1,204,698
17$1,807,047$433,691$108,423$1,264,933
18$1,897,399$455,376$113,844$1,328,179
19$1,992,269$478,145$119,536$1,394,588
20$2,091,882$502,052$125,513$1,464,318
21$2,196,477$527,154$131,789$1,537,534
22$2,306,300$553,512$138,378$1,614,410
23$2,421,615$581,188$145,297$1,695,131
24$2,542,696$610,247$152,562$1,779,887
25$2,669,831$640,759$160,190$1,868,882
26$2,803,323$672,797$168,199$1,962,326
27$2,943,489$706,437$176,609$2,060,442
28$3,090,663$741,759$185,440$2,163,464
29$3,245,196$778,847$194,712$2,271,637
30$3,407,456$817,789$204,447$2,385,219
Total$55,000,000$13,200,000$3,300,000$38,500,000
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