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Mega Millions Annuity Jackpot Analysis for Montana (Nov. 9, 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 $90,000,000 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. 9, 2018
Jackpot:$90,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,354,629$325,111$93,469$936,049
2$1,422,361$341,367$98,143$982,851
3$1,493,479$358,435$103,050$1,031,994
4$1,568,153$376,357$108,203$1,083,593
5$1,646,560$395,174$113,613$1,137,773
6$1,728,888$414,933$119,293$1,194,662
7$1,815,333$435,680$125,258$1,254,395
8$1,906,099$457,464$131,521$1,317,115
9$2,001,404$480,337$138,097$1,382,970
10$2,101,474$504,354$145,002$1,452,119
11$2,206,548$529,572$152,252$1,524,725
12$2,316,876$556,050$159,864$1,600,961
13$2,432,719$583,853$167,858$1,681,009
14$2,554,355$613,045$176,251$1,765,060
15$2,682,073$643,698$185,063$1,853,312
16$2,816,177$675,882$194,316$1,945,978
17$2,956,986$709,677$204,032$2,043,277
18$3,104,835$745,160$214,234$2,145,441
19$3,260,077$782,418$224,945$2,252,713
20$3,423,080$821,539$236,193$2,365,349
21$3,594,234$862,616$248,002$2,483,616
22$3,773,946$905,747$260,402$2,607,797
23$3,962,643$951,034$273,422$2,738,187
24$4,160,776$998,586$287,094$2,875,096
25$4,368,814$1,048,515$301,448$3,018,851
26$4,587,255$1,100,941$316,521$3,169,793
27$4,816,618$1,155,988$332,347$3,328,283
28$5,057,449$1,213,788$348,964$3,494,697
29$5,310,321$1,274,477$366,412$3,669,432
30$5,575,837$1,338,201$384,733$3,852,904
Total$90,000,000$21,600,000$6,210,000$62,190,000
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