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Mega Millions Annuity Jackpot Analysis for Washington, D.C. (May. 25, 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 $73,000,000 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:  May. 25, 2018
Jackpot:$73,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,098,755$263,701$93,394$741,659
2$1,153,693$276,886$98,064$778,742
3$1,211,377$290,731$102,967$817,680
4$1,271,946$305,267$108,115$858,564
5$1,335,543$320,530$113,521$901,492
6$1,402,320$336,557$119,197$946,566
7$1,472,436$353,385$125,157$993,895
8$1,546,058$371,054$131,415$1,043,589
9$1,623,361$389,607$137,986$1,095,769
10$1,704,529$409,087$144,885$1,150,557
11$1,789,756$429,541$152,129$1,208,085
12$1,879,244$451,018$159,736$1,268,489
13$1,973,206$473,569$167,722$1,331,914
14$2,071,866$497,248$176,109$1,398,510
15$2,175,459$522,110$184,914$1,468,435
16$2,284,232$548,216$194,160$1,541,857
17$2,398,444$575,627$203,868$1,618,950
18$2,518,366$604,408$214,061$1,699,897
19$2,644,284$634,628$224,764$1,784,892
20$2,776,499$666,360$236,002$1,874,137
21$2,915,323$699,678$247,802$1,967,843
22$3,061,090$734,662$260,193$2,066,236
23$3,214,144$771,395$273,202$2,169,547
24$3,374,851$809,964$286,862$2,278,025
25$3,543,594$850,463$301,205$2,391,926
26$3,720,774$892,986$316,266$2,511,522
27$3,906,812$937,635$332,079$2,637,098
28$4,102,153$984,517$348,683$2,768,953
29$4,307,261$1,033,743$366,117$2,907,401
30$4,522,624$1,085,430$384,423$3,052,771
Total$73,000,000$17,520,000$6,205,000$49,275,000
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