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Mega Millions Annuity Jackpot Analysis for Washington, D.C. (Jan. 8, 2019 Drawing)

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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 $45,000,000 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:  Jan. 8, 2019
Jackpot:$45,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$57,572$457,187
2$711,180$170,683$60,450$480,047
3$746,739$179,217$63,473$504,049
4$784,076$188,178$66,646$529,252
5$823,280$197,587$69,979$555,714
6$864,444$207,467$73,478$583,500
7$907,666$217,840$77,152$612,675
8$953,050$228,732$81,009$643,309
9$1,000,702$240,169$85,060$675,474
10$1,050,737$252,177$89,313$709,248
11$1,103,274$264,786$93,778$744,710
12$1,158,438$278,025$98,467$781,946
13$1,216,360$291,926$103,391$821,043
14$1,277,178$306,523$108,560$862,095
15$1,341,037$321,849$113,988$905,200
16$1,408,088$337,941$119,688$950,460
17$1,478,493$354,838$125,672$997,983
18$1,552,417$372,580$131,955$1,047,882
19$1,630,038$391,209$138,553$1,100,276
20$1,711,540$410,770$145,481$1,155,290
21$1,797,117$431,308$152,755$1,213,054
22$1,886,973$452,874$160,393$1,273,707
23$1,981,322$475,517$168,412$1,337,392
24$2,080,388$499,293$176,833$1,404,262
25$2,184,407$524,258$185,675$1,474,475
26$2,293,628$550,471$194,958$1,548,199
27$2,408,309$577,994$204,706$1,625,609
28$2,528,724$606,894$214,942$1,706,889
29$2,655,161$637,239$225,689$1,792,233
30$2,787,919$669,100$236,973$1,881,845
Total$45,000,000$10,800,000$3,825,000$30,375,000
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