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Mega Millions Annuity Jackpot Analysis for Maine (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$243,081$3,451,746
2$5,104,694$1,225,127$255,235$3,624,333
3$5,359,929$1,286,383$267,996$3,805,549
4$5,627,926$1,350,702$281,396$3,995,827
5$5,909,321$1,418,237$295,466$4,195,618
6$6,204,788$1,489,149$310,239$4,405,399
7$6,515,027$1,563,607$325,751$4,625,669
8$6,840,779$1,641,787$342,039$4,856,953
9$7,182,817$1,723,876$359,141$5,099,800
10$7,541,958$1,810,070$377,098$5,354,790
11$7,919,056$1,900,573$395,953$5,622,530
12$8,315,009$1,995,602$415,750$5,903,656
13$8,730,759$2,095,382$436,538$6,198,839
14$9,167,297$2,200,151$458,365$6,508,781
15$9,625,662$2,310,159$481,283$6,834,220
16$10,106,946$2,425,667$505,347$7,175,931
17$10,612,293$2,546,950$530,615$7,534,728
18$11,142,907$2,674,298$557,145$7,911,464
19$11,700,053$2,808,013$585,003$8,307,037
20$12,285,055$2,948,413$614,253$8,722,389
21$12,899,308$3,095,834$644,965$9,158,509
22$13,544,273$3,250,626$677,214$9,616,434
23$14,221,487$3,413,157$711,074$10,097,256
24$14,932,561$3,583,815$746,628$10,602,119
25$15,679,189$3,763,005$783,959$11,132,224
26$16,463,149$3,951,156$823,157$11,688,836
27$17,286,307$4,148,714$864,315$12,273,278
28$18,150,622$4,356,149$907,531$12,886,941
29$19,058,153$4,573,957$952,908$13,531,288
30$20,011,061$4,802,655$1,000,553$14,207,853
Total$323,000,001$77,520,000$16,150,000$229,330,000
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