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Mega Millions Annuity Jackpot Analysis for Montana

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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 $245,000,000 would be for a resident of Montana, 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:

Montana

Drawing Date:  Tue, Feb 26, 2019
Jackpot:$245,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,687,602$885,024$254,445$2,548,133
2$3,871,982$929,276$267,167$2,675,539
3$4,065,581$975,739$280,525$2,809,316
4$4,268,860$1,024,526$294,551$2,949,782
5$4,482,303$1,075,753$309,279$3,097,271
6$4,706,418$1,129,540$324,743$3,252,135
7$4,941,739$1,186,017$340,980$3,414,742
8$5,188,826$1,245,318$358,029$3,585,479
9$5,448,267$1,307,584$375,930$3,764,753
10$5,720,680$1,372,963$394,727$3,952,990
11$6,006,714$1,441,611$414,463$4,150,640
12$6,307,050$1,513,692$435,186$4,358,172
13$6,622,403$1,589,377$456,946$4,576,080
14$6,953,523$1,668,845$479,793$4,804,884
15$7,301,199$1,752,288$503,783$5,045,128
16$7,666,259$1,839,902$528,972$5,297,385
17$8,049,572$1,931,897$555,420$5,562,254
18$8,452,050$2,028,492$583,191$5,840,367
19$8,874,653$2,129,917$612,351$6,132,385
20$9,318,386$2,236,413$642,969$6,439,004
21$9,784,305$2,348,233$675,117$6,760,955
22$10,273,520$2,465,645$708,873$7,099,002
23$10,787,196$2,588,927$744,317$7,453,953
24$11,326,556$2,718,373$781,532$7,826,650
25$11,892,884$2,854,292$820,609$8,217,983
26$12,487,528$2,997,007$861,639$8,628,882
27$13,111,904$3,146,857$904,721$9,060,326
28$13,767,499$3,304,200$949,957$9,513,342
29$14,455,874$3,469,410$997,455$9,989,009
30$15,178,668$3,642,880$1,047,328$10,488,460
Total$245,000,000$58,800,000$16,905,000$169,295,000
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