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Mega Millions Annuity Jackpot Analysis for Missouri (Apr. 14, 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 $145,000,000 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:  Apr. 14, 2020
Jackpot:$145,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,182,458$523,790$87,298$1,571,370
2$2,291,581$549,979$91,663$1,649,938
3$2,406,160$577,478$96,246$1,732,435
4$2,526,468$606,352$101,059$1,819,057
5$2,652,791$636,670$106,112$1,910,010
6$2,785,431$668,503$111,417$2,005,510
7$2,924,703$701,929$116,988$2,105,786
8$3,070,938$737,025$122,838$2,211,075
9$3,224,485$773,876$128,979$2,321,629
10$3,385,709$812,570$135,428$2,437,710
11$3,554,994$853,199$142,200$2,559,596
12$3,732,744$895,859$149,310$2,687,576
13$3,919,381$940,651$156,775$2,821,954
14$4,115,350$987,684$164,614$2,963,052
15$4,321,118$1,037,068$172,845$3,111,205
16$4,537,174$1,088,922$181,487$3,266,765
17$4,764,032$1,143,368$190,561$3,430,103
18$5,002,234$1,200,536$200,089$3,601,608
19$5,252,346$1,260,563$210,094$3,781,689
20$5,514,963$1,323,591$220,599$3,970,773
21$5,790,711$1,389,771$231,628$4,169,312
22$6,080,247$1,459,259$243,210$4,377,778
23$6,384,259$1,532,222$255,370$4,596,666
24$6,703,472$1,608,833$268,139$4,826,500
25$7,038,645$1,689,275$281,546$5,067,825
26$7,390,578$1,773,739$295,623$5,321,216
27$7,760,107$1,862,426$310,404$5,587,277
28$8,148,112$1,955,547$325,924$5,866,641
29$8,555,518$2,053,324$342,221$6,159,973
30$8,983,293$2,155,990$359,332$6,467,971
Total$145,000,000$34,800,000$5,800,000$104,400,000
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