USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Mega Millions Annuity Jackpot Analysis for California

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $109,000,000 would be for a resident of California, 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:

California

Drawing Date:  Tue, Oct 27, 2020
Jackpot:$109,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,640,606$393,746$0$1,246,861
2$1,722,637$413,433$0$1,309,204
3$1,808,769$434,104$0$1,374,664
4$1,899,207$455,810$0$1,443,397
5$1,994,167$478,600$0$1,515,567
6$2,093,876$502,530$0$1,591,346
7$2,198,570$527,657$0$1,670,913
8$2,308,498$554,040$0$1,754,459
9$2,423,923$581,742$0$1,842,181
10$2,545,119$610,829$0$1,934,290
11$2,672,375$641,370$0$2,031,005
12$2,805,994$673,439$0$2,132,555
13$2,946,293$707,110$0$2,239,183
14$3,093,608$742,466$0$2,351,142
15$3,248,289$779,589$0$2,468,699
16$3,410,703$818,569$0$2,592,134
17$3,581,238$859,497$0$2,721,741
18$3,760,300$902,472$0$2,857,828
19$3,948,315$947,596$0$3,000,719
20$4,145,731$994,975$0$3,150,755
21$4,353,017$1,044,724$0$3,308,293
22$4,570,668$1,096,960$0$3,473,708
23$4,799,202$1,151,808$0$3,647,393
24$5,039,162$1,209,399$0$3,829,763
25$5,291,120$1,269,869$0$4,021,251
26$5,555,676$1,333,362$0$4,222,314
27$5,833,459$1,400,030$0$4,433,429
28$6,125,132$1,470,032$0$4,655,101
29$6,431,389$1,543,533$0$4,887,856
30$6,752,959$1,620,710$0$5,132,248
Total$109,000,000$26,160,000$0$82,840,000
<( Back )Mega Millions Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.