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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 $378,000,000 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, Jun 5, 2020
Jackpot:$378,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,689,442$1,365,466$483,603$3,840,374
2$5,973,915$1,433,740$507,783$4,032,392
3$6,272,610$1,505,426$533,172$4,234,012
4$6,586,241$1,580,698$559,830$4,445,713
5$6,915,553$1,659,733$587,822$4,667,998
6$7,261,330$1,742,719$617,213$4,901,398
7$7,624,397$1,829,855$648,074$5,146,468
8$8,005,617$1,921,348$680,477$5,403,791
9$8,405,898$2,017,415$714,501$5,673,981
10$8,826,193$2,118,286$750,226$5,957,680
11$9,267,502$2,224,201$787,738$6,255,564
12$9,730,877$2,335,411$827,125$6,568,342
13$10,217,421$2,452,181$868,481$6,896,759
14$10,728,292$2,574,790$911,905$7,241,597
15$11,264,707$2,703,530$957,500$7,603,677
16$11,827,942$2,838,706$1,005,375$7,983,861
17$12,419,339$2,980,641$1,055,644$8,383,054
18$13,040,306$3,129,674$1,108,426$8,802,207
19$13,692,322$3,286,157$1,163,847$9,242,317
20$14,376,938$3,450,465$1,222,040$9,704,433
21$15,095,785$3,622,988$1,283,142$10,189,655
22$15,850,574$3,804,138$1,347,299$10,699,137
23$16,643,103$3,994,345$1,414,664$11,234,094
24$17,475,258$4,194,062$1,485,397$11,795,799
25$18,349,020$4,403,765$1,559,667$12,385,589
26$19,266,472$4,623,953$1,637,650$13,004,868
27$20,229,795$4,855,151$1,719,533$13,655,112
28$21,241,285$5,097,908$1,805,509$14,337,867
29$22,303,349$5,352,804$1,895,785$15,054,761
30$23,418,517$5,620,444$1,990,574$15,807,499
Total$378,000,001$90,720,000$32,130,000$255,150,001
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