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Mega Millions Annuity Jackpot Analysis for Kentucky

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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 $177,000,000 would be for a resident of Kentucky, 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:

Kentucky

Drawing Date:  Tue, Jan 24, 2017
Jackpot:$177,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,664,104$666,026$159,846$1,838,232
2$2,797,309$699,327$167,839$1,930,143
3$2,937,175$734,294$176,230$2,026,651
4$3,084,033$771,008$185,042$2,127,983
5$3,238,235$809,559$194,294$2,234,382
6$3,400,147$850,037$204,009$2,346,101
7$3,570,154$892,539$214,209$2,463,406
8$3,748,662$937,165$224,920$2,586,577
9$3,936,095$984,024$236,166$2,715,906
10$4,132,900$1,033,225$247,974$2,851,701
11$4,339,545$1,084,886$260,373$2,994,286
12$4,556,522$1,139,130$273,391$3,144,000
13$4,784,348$1,196,087$287,061$3,301,200
14$5,023,566$1,255,891$301,414$3,466,260
15$5,274,744$1,318,686$316,485$3,639,573
16$5,538,481$1,384,620$332,309$3,821,552
17$5,815,405$1,453,851$348,924$4,012,629
18$6,106,175$1,526,544$366,371$4,213,261
19$6,411,484$1,602,871$384,689$4,423,924
20$6,732,058$1,683,015$403,923$4,645,120
21$7,068,661$1,767,165$424,120$4,877,376
22$7,422,094$1,855,524$445,326$5,121,245
23$7,793,199$1,948,300$467,592$5,377,307
24$8,182,859$2,045,715$490,972$5,646,172
25$8,592,002$2,148,000$515,520$5,928,481
26$9,021,602$2,255,400$541,296$6,224,905
27$9,472,682$2,368,170$568,361$6,536,151
28$9,946,316$2,486,579$596,779$6,862,958
29$10,443,632$2,610,908$626,618$7,206,106
30$10,965,813$2,741,453$657,949$7,566,411
Total$177,000,000$44,250,000$10,620,000$122,130,000
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