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Mega Millions Annuity Jackpot Analysis for Washington, D.C. (Dec. 21, 2018 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 $305,000,000 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:  Dec. 21, 2018
Jackpot:$305,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,590,688$1,101,765$390,208$3,098,714
2$4,820,222$1,156,853$409,719$3,253,650
3$5,061,233$1,214,696$430,205$3,416,332
4$5,314,295$1,275,431$451,715$3,587,149
5$5,580,009$1,339,202$474,301$3,766,506
6$5,859,010$1,406,162$498,016$3,954,832
7$6,151,961$1,476,471$522,917$4,152,573
8$6,459,559$1,550,294$549,062$4,360,202
9$6,782,537$1,627,809$576,516$4,578,212
10$7,121,663$1,709,199$605,341$4,807,123
11$7,477,747$1,794,659$635,608$5,047,479
12$7,851,634$1,884,392$667,389$5,299,853
13$8,244,216$1,978,612$700,758$5,564,846
14$8,656,426$2,077,542$735,796$5,843,088
15$9,089,248$2,181,419$772,586$6,135,242
16$9,543,710$2,290,490$811,215$6,442,004
17$10,020,895$2,405,015$851,776$6,764,104
18$10,521,940$2,525,266$894,365$7,102,310
19$11,048,037$2,651,529$939,083$7,457,425
20$11,600,439$2,784,105$986,037$7,830,296
21$12,180,461$2,923,311$1,035,339$8,221,811
22$12,789,484$3,069,476$1,087,106$8,632,902
23$13,428,958$3,222,950$1,141,461$9,064,547
24$14,100,406$3,384,097$1,198,535$9,517,774
25$14,805,427$3,553,302$1,258,461$9,993,663
26$15,545,698$3,730,968$1,321,384$10,493,346
27$16,322,983$3,917,516$1,387,454$11,018,014
28$17,139,132$4,113,392$1,456,826$11,568,914
29$17,996,089$4,319,061$1,529,668$12,147,360
30$18,895,893$4,535,014$1,606,151$12,754,728
Total$305,000,001$73,200,000$25,925,000$205,875,000
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