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Mega Millions Annuity Jackpot Analysis for Washington, D.C.

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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 $31,000,000 would be for a resident of Washington, D.C., 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:

Washington, D.C.

Drawing Date:  Fri, Aug 14, 2020
Jackpot:$31,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$111,983$39,661$314,951
2$489,924$117,582$41,644$330,699
3$514,420$123,461$43,726$347,234
4$540,141$129,634$45,912$364,595
5$567,149$136,116$48,208$382,825
6$595,506$142,921$50,618$401,967
7$625,281$150,068$53,149$422,065
8$656,545$157,571$55,806$443,168
9$689,373$165,449$58,597$465,326
10$723,841$173,722$61,527$488,593
11$760,033$182,408$64,603$513,022
12$798,035$191,528$67,833$538,674
13$837,937$201,105$71,225$565,607
14$879,834$211,160$74,786$593,888
15$923,825$221,718$78,525$623,582
16$970,016$232,804$82,451$654,761
17$1,018,517$244,444$86,574$687,499
18$1,069,443$256,666$90,903$721,874
19$1,122,915$269,500$95,448$757,968
20$1,179,061$282,975$100,220$795,866
21$1,238,014$297,123$105,231$835,660
22$1,299,915$311,980$110,493$877,442
23$1,364,911$327,579$116,017$921,315
24$1,433,156$343,957$121,818$967,380
25$1,504,814$361,155$127,909$1,015,749
26$1,580,055$379,213$134,305$1,066,537
27$1,659,057$398,174$141,020$1,119,864
28$1,742,010$418,082$148,071$1,175,857
29$1,829,111$438,987$155,474$1,234,650
30$1,920,566$460,936$163,248$1,296,382
Total$31,000,000$7,440,000$2,635,000$20,925,000
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