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Mega Millions Annuity Jackpot Analysis for Washington, D.C. (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$413,237$3,281,589
2$5,104,694$1,225,127$433,899$3,445,669
3$5,359,929$1,286,383$455,594$3,617,952
4$5,627,926$1,350,702$478,374$3,798,850
5$5,909,321$1,418,237$502,292$3,988,792
6$6,204,788$1,489,149$527,407$4,188,232
7$6,515,027$1,563,607$553,777$4,397,643
8$6,840,779$1,641,787$581,466$4,617,526
9$7,182,817$1,723,876$610,539$4,848,402
10$7,541,958$1,810,070$641,066$5,090,822
11$7,919,056$1,900,573$673,120$5,345,363
12$8,315,009$1,995,602$706,776$5,612,631
13$8,730,759$2,095,382$742,115$5,893,263
14$9,167,297$2,200,151$779,220$6,187,926
15$9,625,662$2,310,159$818,181$6,497,322
16$10,106,946$2,425,667$859,090$6,822,188
17$10,612,293$2,546,950$902,045$7,163,297
18$11,142,907$2,674,298$947,147$7,521,462
19$11,700,053$2,808,013$994,504$7,897,535
20$12,285,055$2,948,413$1,044,230$8,292,412
21$12,899,308$3,095,834$1,096,441$8,707,033
22$13,544,273$3,250,626$1,151,263$9,142,385
23$14,221,487$3,413,157$1,208,826$9,599,504
24$14,932,561$3,583,815$1,269,268$10,079,479
25$15,679,189$3,763,005$1,332,731$10,583,453
26$16,463,149$3,951,156$1,399,368$11,112,626
27$17,286,307$4,148,714$1,469,336$11,668,257
28$18,150,622$4,356,149$1,542,803$12,251,670
29$19,058,153$4,573,957$1,619,943$12,864,253
30$20,011,061$4,802,655$1,700,940$13,507,466
Total$323,000,001$77,520,000$27,455,000$218,025,000
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