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Mega Millions Annuity Jackpot Analysis for Montana (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$335,451$3,359,375
2$5,104,694$1,225,127$352,224$3,527,344
3$5,359,929$1,286,383$369,835$3,703,711
4$5,627,926$1,350,702$388,327$3,888,897
5$5,909,321$1,418,237$407,743$4,083,341
6$6,204,788$1,489,149$428,130$4,287,508
7$6,515,027$1,563,607$449,537$4,501,884
8$6,840,779$1,641,787$472,014$4,726,978
9$7,182,817$1,723,876$495,614$4,963,327
10$7,541,958$1,810,070$520,395$5,211,493
11$7,919,056$1,900,573$546,415$5,472,068
12$8,315,009$1,995,602$573,736$5,745,671
13$8,730,759$2,095,382$602,422$6,032,955
14$9,167,297$2,200,151$632,544$6,334,603
15$9,625,662$2,310,159$664,171$6,651,333
16$10,106,946$2,425,667$697,379$6,983,899
17$10,612,293$2,546,950$732,248$7,333,094
18$11,142,907$2,674,298$768,861$7,699,749
19$11,700,053$2,808,013$807,304$8,084,736
20$12,285,055$2,948,413$847,669$8,488,973
21$12,899,308$3,095,834$890,052$8,913,422
22$13,544,273$3,250,626$934,555$9,359,093
23$14,221,487$3,413,157$981,283$9,827,048
24$14,932,561$3,583,815$1,030,347$10,318,400
25$15,679,189$3,763,005$1,081,864$10,834,320
26$16,463,149$3,951,156$1,135,957$11,376,036
27$17,286,307$4,148,714$1,192,755$11,944,838
28$18,150,622$4,356,149$1,252,393$12,542,080
29$19,058,153$4,573,957$1,315,013$13,169,184
30$20,011,061$4,802,655$1,380,763$13,827,643
Total$323,000,001$77,520,000$22,287,000$223,193,000
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