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Mega Millions Annuity Jackpot Analysis for Montana (Nov. 6, 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 $70,000,000 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:  Nov. 6, 2018
Jackpot:$70,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,053,600$252,864$72,698$728,038
2$1,106,280$265,507$76,333$764,440
3$1,161,594$278,783$80,150$802,662
4$1,219,674$292,722$84,158$842,795
5$1,280,658$307,358$88,365$884,935
6$1,344,691$322,726$92,784$929,181
7$1,411,925$338,862$97,423$975,640
8$1,482,522$355,805$102,294$1,024,422
9$1,556,648$373,595$107,409$1,075,644
10$1,634,480$392,275$112,779$1,129,426
11$1,716,204$411,889$118,418$1,185,897
12$1,802,014$432,483$124,339$1,245,192
13$1,892,115$454,108$130,556$1,307,451
14$1,986,721$476,813$137,084$1,372,824
15$2,086,057$500,654$143,938$1,441,465
16$2,190,360$525,686$151,135$1,513,539
17$2,299,878$551,971$158,692$1,589,215
18$2,414,872$579,569$166,626$1,668,676
19$2,535,615$608,548$174,957$1,752,110
20$2,662,396$638,975$183,705$1,839,716
21$2,795,516$670,924$192,891$1,931,701
22$2,935,291$704,470$202,535$2,028,286
23$3,082,056$739,693$212,662$2,129,701
24$3,236,159$776,678$223,295$2,236,186
25$3,397,967$815,512$234,460$2,347,995
26$3,567,865$856,288$246,183$2,465,395
27$3,746,258$899,102$258,492$2,588,665
28$3,933,571$944,057$271,416$2,718,098
29$4,130,250$991,260$284,987$2,854,003
30$4,336,762$1,040,823$299,237$2,996,703
Total$70,000,000$16,800,000$4,830,000$48,370,000
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