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Mega Millions Annuity Jackpot Analysis for Georgia

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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 $245,000,000 would be for a resident of Georgia, 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:

Georgia

Drawing Date:  Tue, Feb 26, 2019
Jackpot:$245,000,000
Federal Tax:  24%
State Tax:5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,687,602$885,024$212,037$2,590,540
2$3,871,982$929,276$222,639$2,720,067
3$4,065,581$975,739$233,771$2,856,070
4$4,268,860$1,024,526$245,459$2,998,874
5$4,482,303$1,075,753$257,732$3,148,818
6$4,706,418$1,129,540$270,619$3,306,259
7$4,941,739$1,186,017$284,150$3,471,572
8$5,188,826$1,245,318$298,357$3,645,150
9$5,448,267$1,307,584$313,275$3,827,408
10$5,720,680$1,372,963$328,939$4,018,778
11$6,006,714$1,441,611$345,386$4,219,717
12$6,307,050$1,513,692$362,655$4,430,703
13$6,622,403$1,589,377$380,788$4,652,238
14$6,953,523$1,668,845$399,828$4,884,850
15$7,301,199$1,752,288$419,819$5,129,092
16$7,666,259$1,839,902$440,810$5,385,547
17$8,049,572$1,931,897$462,850$5,654,824
18$8,452,050$2,028,492$485,993$5,937,565
19$8,874,653$2,129,917$510,293$6,234,444
20$9,318,386$2,236,413$535,807$6,546,166
21$9,784,305$2,348,233$562,598$6,873,474
22$10,273,520$2,465,645$590,727$7,217,148
23$10,787,196$2,588,927$620,264$7,578,005
24$11,326,556$2,718,373$651,277$7,956,905
25$11,892,884$2,854,292$683,841$8,354,751
26$12,487,528$2,997,007$718,033$8,772,488
27$13,111,904$3,146,857$753,935$9,211,113
28$13,767,499$3,304,200$791,631$9,671,668
29$14,455,874$3,469,410$831,213$10,155,252
30$15,178,668$3,642,880$872,773$10,663,014
Total$245,000,000$58,800,000$14,087,500$172,112,500
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