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Mega Millions Annuity Jackpot Analysis for Maine (Nov. 2, 2018 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 $52,000,000 would be for a resident of Maine, 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:

Maine

Drawing Date:  Nov. 2, 2018
Jackpot:$52,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$187,842$39,134$555,699
2$821,808$197,234$41,090$583,484
3$862,899$207,096$43,145$612,658
4$906,044$217,450$45,302$643,291
5$951,346$228,323$47,567$675,456
6$998,913$239,739$49,946$709,228
7$1,048,859$251,726$52,443$744,690
8$1,101,302$264,312$55,065$781,924
9$1,156,367$277,528$57,818$821,020
10$1,214,185$291,404$60,709$862,072
11$1,274,895$305,975$63,745$905,175
12$1,338,639$321,273$66,932$950,434
13$1,405,571$337,337$70,279$997,956
14$1,475,850$354,204$73,792$1,047,853
15$1,549,642$371,914$77,482$1,100,246
16$1,627,124$390,510$81,356$1,155,258
17$1,708,481$410,035$85,424$1,213,021
18$1,793,905$430,537$89,695$1,273,672
19$1,883,600$452,064$94,180$1,337,356
20$1,977,780$474,667$98,889$1,404,224
21$2,076,669$498,401$103,833$1,474,435
22$2,180,502$523,321$109,025$1,548,157
23$2,289,527$549,487$114,476$1,625,564
24$2,404,004$576,961$120,200$1,706,843
25$2,524,204$605,809$126,210$1,792,185
26$2,650,414$636,099$132,521$1,881,794
27$2,782,935$667,904$139,147$1,975,884
28$2,922,082$701,300$146,104$2,074,678
29$3,068,186$736,365$153,409$2,178,412
30$3,221,595$773,183$161,080$2,287,332
Total$52,000,000$12,480,000$2,600,000$36,920,000
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