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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 $214,000,000 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 26, 2015
Jackpot:$214,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,221,007$805,252$161,050$2,254,705
2$3,382,057$845,514$169,103$2,367,440
3$3,551,160$887,790$177,558$2,485,812
4$3,728,718$932,180$186,436$2,610,103
5$3,915,154$978,789$195,758$2,740,608
6$4,110,912$1,027,728$205,546$2,877,638
7$4,316,458$1,079,114$215,823$3,021,520
8$4,532,281$1,133,070$226,614$3,172,596
9$4,758,895$1,189,724$237,945$3,331,226
10$4,996,839$1,249,210$249,842$3,497,787
11$5,246,681$1,311,670$262,334$3,672,677
12$5,509,015$1,377,254$275,451$3,856,311
13$5,784,466$1,446,117$289,223$4,049,126
14$6,073,689$1,518,422$303,684$4,251,583
15$6,377,374$1,594,343$318,869$4,464,162
16$6,696,243$1,674,061$334,812$4,687,370
17$7,031,055$1,757,764$351,553$4,921,738
18$7,382,607$1,845,652$369,130$5,167,825
19$7,751,738$1,937,934$387,587$5,426,216
20$8,139,325$2,034,831$406,966$5,697,527
21$8,546,291$2,136,573$427,315$5,982,404
22$8,973,605$2,243,401$448,680$6,281,524
23$9,422,286$2,355,571$471,114$6,595,600
24$9,893,400$2,473,350$494,670$6,925,380
25$10,388,070$2,597,017$519,403$7,271,649
26$10,907,473$2,726,868$545,374$7,635,231
27$11,452,847$2,863,212$572,642$8,016,993
28$12,025,489$3,006,372$601,274$8,417,842
29$12,626,764$3,156,691$631,338$8,838,735
30$13,258,102$3,314,526$662,905$9,280,671
Total$214,000,000$53,500,000$10,700,000$149,800,000
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