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Mega Millions Annuity Jackpot Analysis for Montana (Oct. 30, 2018 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 $45,000,000 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:  Oct. 30, 2018
Jackpot:$45,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$46,735$468,024
2$711,180$170,683$49,071$491,426
3$746,739$179,217$51,525$515,997
4$784,076$188,178$54,101$541,797
5$823,280$197,587$56,806$568,887
6$864,444$207,467$59,647$597,331
7$907,666$217,840$62,629$627,197
8$953,050$228,732$65,760$658,557
9$1,000,702$240,169$69,048$691,485
10$1,050,737$252,177$72,501$726,059
11$1,103,274$264,786$76,126$762,362
12$1,158,438$278,025$79,932$800,481
13$1,216,360$291,926$83,929$840,505
14$1,277,178$306,523$88,125$882,530
15$1,341,037$321,849$92,532$926,656
16$1,408,088$337,941$97,158$972,989
17$1,478,493$354,838$102,016$1,021,639
18$1,552,417$372,580$107,117$1,072,720
19$1,630,038$391,209$112,473$1,126,356
20$1,711,540$410,770$118,096$1,182,674
21$1,797,117$431,308$124,001$1,241,808
22$1,886,973$452,874$130,201$1,303,898
23$1,981,322$475,517$136,711$1,369,093
24$2,080,388$499,293$143,547$1,437,548
25$2,184,407$524,258$150,724$1,509,425
26$2,293,628$550,471$158,260$1,584,897
27$2,408,309$577,994$166,173$1,664,141
28$2,528,724$606,894$174,482$1,747,349
29$2,655,161$637,239$183,206$1,834,716
30$2,787,919$669,100$192,366$1,926,452
Total$45,000,000$10,800,000$3,105,000$31,095,000
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