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Mega Millions Annuity Jackpot Analysis for Louisiana (Apr. 3, 2020 Drawing)

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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 $121,000,000 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:  Apr. 3, 2020
Jackpot:$121,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,821,224$437,094$91,061$1,293,069
2$1,912,285$458,948$95,614$1,357,722
3$2,007,899$481,896$100,395$1,425,608
4$2,108,294$505,991$105,415$1,496,889
5$2,213,709$531,290$110,685$1,571,733
6$2,324,394$557,855$116,220$1,650,320
7$2,440,614$585,747$122,031$1,732,836
8$2,562,645$615,035$128,132$1,819,478
9$2,690,777$645,786$134,539$1,910,452
10$2,825,316$678,076$141,266$2,005,974
11$2,966,581$711,980$148,329$2,106,273
12$3,114,911$747,579$155,746$2,211,586
13$3,270,656$784,957$163,533$2,322,166
14$3,434,189$824,205$171,709$2,438,274
15$3,605,898$865,416$180,295$2,560,188
16$3,786,193$908,686$189,310$2,688,197
17$3,975,503$954,121$198,775$2,822,607
18$4,174,278$1,001,827$208,714$2,963,737
19$4,382,992$1,051,918$219,150$3,111,924
20$4,602,141$1,104,514$230,107$3,267,520
21$4,832,248$1,159,740$241,612$3,430,896
22$5,073,861$1,217,727$253,693$3,602,441
23$5,327,554$1,278,613$266,378$3,782,563
24$5,593,932$1,342,544$279,697$3,971,691
25$5,873,628$1,409,671$293,681$4,170,276
26$6,167,310$1,480,154$308,365$4,378,790
27$6,475,675$1,554,162$323,784$4,597,729
28$6,799,459$1,631,870$339,973$4,827,616
29$7,139,432$1,713,464$356,972$5,068,997
30$7,496,404$1,799,137$374,820$5,322,446
Total$121,000,000$29,040,000$6,050,000$85,910,000
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