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Mega Millions Annuity Jackpot Analysis for Louisiana

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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 $128,000,000 would be for a resident of Louisiana, 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:

Louisiana

Drawing Date:  Tue, May 3, 2016
Jackpot:$128,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,926,584$481,646$96,329$1,348,609
2$2,022,913$505,728$101,146$1,416,039
3$2,124,058$531,015$106,203$1,486,841
4$2,230,262$557,565$111,513$1,561,183
5$2,341,774$585,444$117,089$1,639,242
6$2,458,863$614,716$122,943$1,721,204
7$2,581,806$645,452$129,090$1,807,265
8$2,710,897$677,724$135,545$1,897,628
9$2,846,442$711,610$142,322$1,992,509
10$2,988,764$747,191$149,438$2,092,135
11$3,138,202$784,550$156,910$2,196,741
12$3,295,112$823,778$164,756$2,306,578
13$3,459,868$864,967$172,993$2,421,907
14$3,632,861$908,215$181,643$2,543,003
15$3,814,504$953,626$190,725$2,670,153
16$4,005,229$1,001,307$200,261$2,803,660
17$4,205,491$1,051,373$210,275$2,943,843
18$4,415,765$1,103,941$220,788$3,091,036
19$4,636,553$1,159,138$231,828$3,245,587
20$4,868,381$1,217,095$243,419$3,407,867
21$5,111,800$1,277,950$255,590$3,578,260
22$5,367,390$1,341,848$268,370$3,757,173
23$5,635,760$1,408,940$281,788$3,945,032
24$5,917,548$1,479,387$295,877$4,142,283
25$6,213,425$1,553,356$310,671$4,349,397
26$6,524,096$1,631,024$326,205$4,566,867
27$6,850,301$1,712,575$342,515$4,795,211
28$7,192,816$1,798,204$359,641$5,034,971
29$7,552,457$1,888,114$377,623$5,286,720
30$7,930,080$1,982,520$396,504$5,551,056
Total$128,000,000$32,000,000$6,400,000$89,600,000
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