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Mega Millions Annuity Jackpot Analysis for Washington, D.C. (Apr. 14, 2020 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 $145,000,000 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:  Apr. 14, 2020
Jackpot:$145,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,182,458$523,790$185,509$1,473,159
2$2,291,581$549,979$194,784$1,546,817
3$2,406,160$577,478$204,524$1,624,158
4$2,526,468$606,352$214,750$1,705,366
5$2,652,791$636,670$225,487$1,790,634
6$2,785,431$668,503$236,762$1,880,166
7$2,924,703$701,929$248,600$1,974,174
8$3,070,938$737,025$261,030$2,072,883
9$3,224,485$773,876$274,081$2,176,527
10$3,385,709$812,570$287,785$2,285,353
11$3,554,994$853,199$302,175$2,399,621
12$3,732,744$895,859$317,283$2,519,602
13$3,919,381$940,651$333,147$2,645,582
14$4,115,350$987,684$349,805$2,777,861
15$4,321,118$1,037,068$367,295$2,916,754
16$4,537,174$1,088,922$385,660$3,062,592
17$4,764,032$1,143,368$404,943$3,215,722
18$5,002,234$1,200,536$425,190$3,376,508
19$5,252,346$1,260,563$446,449$3,545,333
20$5,514,963$1,323,591$468,772$3,722,600
21$5,790,711$1,389,771$492,210$3,908,730
22$6,080,247$1,459,259$516,821$4,104,166
23$6,384,259$1,532,222$542,662$4,309,375
24$6,703,472$1,608,833$569,795$4,524,843
25$7,038,645$1,689,275$598,285$4,751,086
26$7,390,578$1,773,739$628,199$4,988,640
27$7,760,107$1,862,426$659,609$5,238,072
28$8,148,112$1,955,547$692,590$5,499,976
29$8,555,518$2,053,324$727,219$5,774,974
30$8,983,293$2,155,990$763,580$6,063,723
Total$145,000,000$34,800,000$12,325,000$97,875,000
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