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Mega Millions Annuity Jackpot Analysis for Georgia (Nov. 2, 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 $52,000,000 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:  Nov. 2, 2018
Jackpot:$52,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$187,842$46,960$547,872
2$821,808$197,234$49,309$575,266
3$862,899$207,096$51,774$604,029
4$906,044$217,450$54,363$634,231
5$951,346$228,323$57,081$665,942
6$998,913$239,739$59,935$699,239
7$1,048,859$251,726$62,932$734,201
8$1,101,302$264,312$66,078$770,911
9$1,156,367$277,528$69,382$809,457
10$1,214,185$291,404$72,851$849,930
11$1,274,895$305,975$76,494$892,426
12$1,338,639$321,273$80,318$937,047
13$1,405,571$337,337$84,334$983,900
14$1,475,850$354,204$88,551$1,033,095
15$1,549,642$371,914$92,979$1,084,750
16$1,627,124$390,510$97,627$1,138,987
17$1,708,481$410,035$102,509$1,195,936
18$1,793,905$430,537$107,634$1,255,733
19$1,883,600$452,064$113,016$1,318,520
20$1,977,780$474,667$118,667$1,384,446
21$2,076,669$498,401$124,600$1,453,668
22$2,180,502$523,321$130,830$1,526,352
23$2,289,527$549,487$137,372$1,602,669
24$2,404,004$576,961$144,240$1,682,803
25$2,524,204$605,809$151,452$1,766,943
26$2,650,414$636,099$159,025$1,855,290
27$2,782,935$667,904$166,976$1,948,054
28$2,922,082$701,300$175,325$2,045,457
29$3,068,186$736,365$184,091$2,147,730
30$3,221,595$773,183$193,296$2,255,116
Total$52,000,000$12,480,000$3,120,000$36,400,000
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