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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 $25,000,000 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:  Fri, Jul 31, 2015
Jackpot:$25,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$94,071$18,814$263,400
2$395,100$98,775$19,755$276,570
3$414,855$103,714$20,743$290,399
4$435,598$108,899$21,780$304,919
5$457,378$114,344$22,869$320,164
6$480,247$120,062$24,012$336,173
7$504,259$126,065$25,213$352,981
8$529,472$132,368$26,474$370,630
9$555,946$138,986$27,797$389,162
10$583,743$145,936$29,187$408,620
11$612,930$153,233$30,647$429,051
12$643,577$160,894$32,179$450,504
13$675,755$168,939$33,788$473,029
14$709,543$177,386$35,477$496,680
15$745,020$186,255$37,251$521,514
16$782,271$195,568$39,114$547,590
17$821,385$205,346$41,069$574,969
18$862,454$215,614$43,123$603,718
19$905,577$226,394$45,279$633,904
20$950,856$237,714$47,543$665,599
21$998,398$249,600$49,920$698,879
22$1,048,318$262,080$52,416$733,823
23$1,100,734$275,184$55,037$770,514
24$1,155,771$288,943$57,789$809,040
25$1,213,560$303,390$60,678$849,492
26$1,274,238$318,559$63,712$891,966
27$1,337,949$334,487$66,897$936,565
28$1,404,847$351,212$70,242$983,393
29$1,475,089$368,772$73,754$1,032,562
30$1,548,844$387,211$77,442$1,084,191
Total$25,000,000$6,250,000$1,250,000$17,500,000
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