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Mega Millions Annuity Jackpot Analysis for Missouri

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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 $60,000,000 would be for a resident of Missouri, 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:

Missouri

Drawing Date:  Tue, Jun 25, 2019
Jackpot:$60,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$216,741$36,123$650,222
2$948,240$227,578$37,930$682,733
3$995,652$238,957$39,826$716,870
4$1,045,435$250,904$41,817$752,713
5$1,097,707$263,450$43,908$790,349
6$1,152,592$276,622$46,104$829,866
7$1,210,222$290,453$48,409$871,360
8$1,270,733$304,976$50,829$914,928
9$1,334,270$320,225$53,371$960,674
10$1,400,983$336,236$56,039$1,008,708
11$1,471,032$353,048$58,841$1,059,143
12$1,544,584$370,700$61,783$1,112,100
13$1,621,813$389,235$64,873$1,167,705
14$1,702,904$408,697$68,116$1,226,091
15$1,788,049$429,132$71,522$1,287,395
16$1,877,451$450,588$75,098$1,351,765
17$1,971,324$473,118$78,853$1,419,353
18$2,069,890$496,774$82,796$1,490,321
19$2,173,384$521,612$86,935$1,564,837
20$2,282,054$547,693$91,282$1,643,079
21$2,396,156$575,078$95,846$1,725,233
22$2,515,964$603,831$100,639$1,811,494
23$2,641,762$634,023$105,670$1,902,069
24$2,773,850$665,724$110,954$1,997,172
25$2,912,543$699,010$116,502$2,097,031
26$3,058,170$733,961$122,327$2,201,882
27$3,211,079$770,659$128,443$2,311,977
28$3,371,633$809,192$134,865$2,427,575
29$3,540,214$849,651$141,609$2,548,954
30$3,717,225$892,134$148,689$2,676,402
Total$60,000,000$14,400,000$2,400,000$43,200,000
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