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

Mega Millions Annuity Jackpot Analysis for California (Jul. 22, 2014 Drawing)

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 $58,000,000 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:  Jul. 22, 2014
Jackpot:$58,000,000
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$872,983$209,516$0$663,467
2$916,632$219,992$0$696,641
3$962,464$230,991$0$731,473
4$1,010,587$242,541$0$768,046
5$1,061,117$254,668$0$806,449
6$1,114,172$267,401$0$846,771
7$1,169,881$280,771$0$889,110
8$1,228,375$294,810$0$933,565
9$1,289,794$309,551$0$980,243
10$1,354,284$325,028$0$1,029,255
11$1,421,998$341,279$0$1,080,718
12$1,493,098$358,343$0$1,134,754
13$1,567,752$376,261$0$1,191,492
14$1,646,140$395,074$0$1,251,066
15$1,728,447$414,827$0$1,313,620
16$1,814,869$435,569$0$1,379,301
17$1,905,613$457,347$0$1,448,266
18$2,000,894$480,214$0$1,520,679
19$2,100,938$504,225$0$1,596,713
20$2,205,985$529,436$0$1,676,549
21$2,316,284$555,908$0$1,760,376
22$2,432,099$583,704$0$1,848,395
23$2,553,704$612,889$0$1,940,815
24$2,681,389$643,533$0$2,037,855
25$2,815,458$675,710$0$2,139,748
26$2,956,231$709,495$0$2,246,736
27$3,104,043$744,970$0$2,359,072
28$3,259,245$782,219$0$2,477,026
29$3,422,207$821,330$0$2,600,877
30$3,593,317$862,396$0$2,730,921
Total$58,000,000$13,920,000$0$44,080,000
<( 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.