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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 $218,000,000 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:  Fri, May 27, 2016
Jackpot:$218,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,281,213$820,303$196,873$2,264,037
2$3,445,274$861,318$206,716$2,377,239
3$3,617,537$904,384$217,052$2,496,101
4$3,798,414$949,604$227,905$2,620,906
5$3,988,335$997,084$239,300$2,751,951
6$4,187,751$1,046,938$251,265$2,889,548
7$4,397,139$1,099,285$263,828$3,034,026
8$4,616,996$1,154,249$277,020$3,185,727
9$4,847,846$1,211,961$290,871$3,345,014
10$5,090,238$1,272,560$305,414$3,512,264
11$5,344,750$1,336,188$320,685$3,687,878
12$5,611,988$1,402,997$336,719$3,872,271
13$5,892,587$1,473,147$353,555$4,065,885
14$6,187,216$1,546,804$371,233$4,269,179
15$6,496,577$1,624,144$389,795$4,482,638
16$6,821,406$1,705,351$409,284$4,706,770
17$7,162,476$1,790,619$429,749$4,942,109
18$7,520,600$1,880,150$451,236$5,189,214
19$7,896,630$1,974,157$473,798$5,448,675
20$8,291,461$2,072,865$497,488$5,721,108
21$8,706,034$2,176,509$522,362$6,007,164
22$9,141,336$2,285,334$548,480$6,307,522
23$9,598,403$2,399,601$575,904$6,622,898
24$10,078,323$2,519,581$604,699$6,954,043
25$10,582,239$2,645,560$634,934$7,301,745
26$11,111,351$2,777,838$666,681$7,666,832
27$11,666,919$2,916,730$700,015$8,050,174
28$12,250,265$3,062,566$735,016$8,452,683
29$12,862,778$3,215,695$771,767$8,875,317
30$13,505,917$3,376,479$810,355$9,319,083
Total$218,000,000$54,500,000$13,080,000$150,420,000
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