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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 $15,000,000 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, Mar 3, 2015
Jackpot:$15,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$56,443$13,546$155,782
2$237,060$59,265$14,224$163,571
3$248,913$62,228$14,935$171,750
4$261,359$65,340$15,682$180,338
5$274,427$68,607$16,466$189,354
6$288,148$72,037$17,289$198,822
7$302,555$75,639$18,153$208,763
8$317,683$79,421$19,061$219,201
9$333,567$83,392$20,014$230,161
10$350,246$87,561$21,015$241,670
11$367,758$91,940$22,065$253,753
12$386,146$96,536$23,169$266,441
13$405,453$101,363$24,327$279,763
14$425,726$106,431$25,544$293,751
15$447,012$111,753$26,821$308,438
16$469,363$117,341$28,162$323,860
17$492,831$123,208$29,570$340,053
18$517,472$129,368$31,048$357,056
19$543,346$135,837$32,601$374,909
20$570,513$142,628$34,231$393,654
21$599,039$149,760$35,942$413,337
22$628,991$157,248$37,739$434,004
23$660,441$165,110$39,626$455,704
24$693,463$173,366$41,608$478,489
25$728,136$182,034$43,688$502,414
26$764,543$191,136$45,873$527,534
27$802,770$200,692$48,166$553,911
28$842,908$210,727$50,574$581,607
29$885,054$221,263$53,103$610,687
30$929,306$232,327$55,758$641,221
Total$15,000,000$3,750,000$900,000$10,350,000
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