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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 $55,000,000 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:  Fri, Jun 21, 2019
Jackpot:$55,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$198,679$57,120$572,030
2$869,220$208,613$59,976$600,631
3$912,681$219,044$62,975$630,663
4$958,315$229,996$66,124$662,196
5$1,006,231$241,495$69,430$695,306
6$1,056,543$253,570$72,901$730,071
7$1,109,370$266,249$76,547$766,575
8$1,164,838$279,561$80,374$804,903
9$1,223,080$293,539$84,393$845,149
10$1,284,234$308,216$88,612$887,406
11$1,348,446$323,627$93,043$931,776
12$1,415,868$339,808$97,695$978,365
13$1,486,662$356,799$102,580$1,027,283
14$1,560,995$374,639$107,709$1,078,647
15$1,639,045$393,371$113,094$1,132,580
16$1,720,997$413,039$118,749$1,189,209
17$1,807,047$433,691$124,686$1,248,669
18$1,897,399$455,376$130,921$1,311,103
19$1,992,269$478,145$137,467$1,376,658
20$2,091,882$502,052$144,340$1,445,491
21$2,196,477$527,154$151,557$1,517,765
22$2,306,300$553,512$159,135$1,593,654
23$2,421,615$581,188$167,091$1,673,336
24$2,542,696$610,247$175,446$1,757,003
25$2,669,831$640,759$184,218$1,844,853
26$2,803,323$672,797$193,429$1,937,096
27$2,943,489$706,437$203,101$2,033,951
28$3,090,663$741,759$213,256$2,135,648
29$3,245,196$778,847$223,919$2,242,431
30$3,407,456$817,789$235,114$2,354,552
Total$55,000,000$13,200,000$3,795,000$38,005,000
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