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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 $192,000,000 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, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$166,168$2,030,138
2$3,034,369$728,249$174,476$2,131,644
3$3,186,088$764,661$183,200$2,238,227
4$3,345,392$802,894$192,360$2,350,138
5$3,512,662$843,039$201,978$2,467,645
6$3,688,295$885,191$212,077$2,591,027
7$3,872,710$929,450$222,681$2,720,579
8$4,066,345$975,923$233,815$2,856,607
9$4,269,662$1,024,719$245,506$2,999,438
10$4,483,145$1,075,955$257,781$3,149,410
11$4,707,303$1,129,753$270,670$3,306,880
12$4,942,668$1,186,240$284,203$3,472,224
13$5,189,801$1,245,552$298,414$3,645,835
14$5,449,291$1,307,830$313,334$3,828,127
15$5,721,756$1,373,221$329,001$4,019,534
16$6,007,844$1,441,883$345,451$4,220,510
17$6,308,236$1,513,977$362,724$4,431,536
18$6,623,648$1,589,675$380,860$4,653,112
19$6,954,830$1,669,159$399,903$4,885,768
20$7,302,572$1,752,617$419,898$5,130,057
21$7,667,700$1,840,248$440,893$5,386,559
22$8,051,085$1,932,260$462,937$5,655,887
23$8,453,639$2,028,873$486,084$5,938,682
24$8,876,321$2,130,317$510,388$6,235,616
25$9,320,137$2,236,833$535,908$6,547,396
26$9,786,144$2,348,675$562,703$6,874,766
27$10,275,452$2,466,108$590,838$7,218,505
28$10,789,224$2,589,414$620,380$7,579,430
29$11,328,685$2,718,884$651,399$7,958,401
30$11,895,120$2,854,829$683,969$8,356,322
Total$192,000,000$46,080,000$11,040,000$134,880,000
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