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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 $192,000,000 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, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$199,401$1,996,904
2$3,034,369$728,249$209,371$2,096,749
3$3,186,088$764,661$219,840$2,201,587
4$3,345,392$802,894$230,832$2,311,666
5$3,512,662$843,039$242,374$2,427,249
6$3,688,295$885,191$254,492$2,548,612
7$3,872,710$929,450$267,217$2,676,042
8$4,066,345$975,923$280,578$2,809,845
9$4,269,662$1,024,719$294,607$2,950,337
10$4,483,145$1,075,955$309,337$3,097,854
11$4,707,303$1,129,753$324,804$3,252,746
12$4,942,668$1,186,240$341,044$3,415,384
13$5,189,801$1,245,552$358,096$3,586,153
14$5,449,291$1,307,830$376,001$3,765,460
15$5,721,756$1,373,221$394,801$3,953,733
16$6,007,844$1,441,883$414,541$4,151,420
17$6,308,236$1,513,977$435,268$4,358,991
18$6,623,648$1,589,675$457,032$4,576,941
19$6,954,830$1,669,159$479,883$4,805,788
20$7,302,572$1,752,617$503,877$5,046,077
21$7,667,700$1,840,248$529,071$5,298,381
22$8,051,085$1,932,260$555,525$5,563,300
23$8,453,639$2,028,873$583,301$5,841,465
24$8,876,321$2,130,317$612,466$6,133,538
25$9,320,137$2,236,833$643,089$6,440,215
26$9,786,144$2,348,675$675,244$6,762,226
27$10,275,452$2,466,108$709,006$7,100,337
28$10,789,224$2,589,414$744,456$7,455,354
29$11,328,685$2,718,884$781,679$7,828,122
30$11,895,120$2,854,829$820,763$8,219,528
Total$192,000,000$46,080,000$13,248,000$132,672,000
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