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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 $235,000,000 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 31, 2016
Jackpot:$235,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,537,087$884,272$176,854$2,475,961
2$3,713,942$928,485$185,697$2,599,759
3$3,899,639$974,910$194,982$2,729,747
4$4,094,621$1,023,655$204,731$2,866,235
5$4,299,352$1,074,838$214,968$3,009,546
6$4,514,319$1,128,580$225,716$3,160,023
7$4,740,035$1,185,009$237,002$3,318,025
8$4,977,037$1,244,259$248,852$3,483,926
9$5,225,889$1,306,472$261,294$3,658,122
10$5,487,183$1,371,796$274,359$3,841,028
11$5,761,542$1,440,386$288,077$4,033,080
12$6,049,620$1,512,405$302,481$4,234,734
13$6,352,101$1,588,025$317,605$4,446,470
14$6,669,706$1,667,426$333,485$4,668,794
15$7,003,191$1,750,798$350,160$4,902,234
16$7,353,350$1,838,338$367,668$5,147,345
17$7,721,018$1,930,254$386,051$5,404,712
18$8,107,069$2,026,767$405,353$5,674,948
19$8,512,422$2,128,106$425,621$5,958,696
20$8,938,043$2,234,511$446,902$6,256,630
21$9,384,945$2,346,236$469,247$6,569,462
22$9,854,193$2,463,548$492,710$6,897,935
23$10,346,902$2,586,726$517,345$7,242,832
24$10,864,247$2,716,062$543,212$7,604,973
25$11,407,460$2,851,865$570,373$7,985,222
26$11,977,833$2,994,458$598,892$8,384,483
27$12,576,725$3,144,181$628,836$8,803,707
28$13,205,561$3,301,390$660,278$9,243,892
29$13,865,839$3,466,460$693,292$9,706,087
30$14,559,131$3,639,783$727,957$10,191,392
Total$235,000,000$58,750,000$11,750,000$164,500,000
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