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Mega Millions Annuity Jackpot Analysis for North Dakota

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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 $192,000,000 would be for a resident of North Dakota, 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:

North Dakota

Drawing Date:  Tue, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$83,806$2,112,499
2$3,034,369$728,249$87,997$2,218,124
3$3,186,088$764,661$92,397$2,329,030
4$3,345,392$802,894$97,016$2,445,482
5$3,512,662$843,039$101,867$2,567,756
6$3,688,295$885,191$106,961$2,696,144
7$3,872,710$929,450$112,309$2,830,951
8$4,066,345$975,923$117,924$2,972,498
9$4,269,662$1,024,719$123,820$3,121,123
10$4,483,145$1,075,955$130,011$3,277,179
11$4,707,303$1,129,753$136,512$3,441,038
12$4,942,668$1,186,240$143,337$3,613,090
13$5,189,801$1,245,552$150,504$3,793,745
14$5,449,291$1,307,830$158,029$3,983,432
15$5,721,756$1,373,221$165,931$4,182,604
16$6,007,844$1,441,883$174,227$4,391,734
17$6,308,236$1,513,977$182,939$4,611,320
18$6,623,648$1,589,675$192,086$4,841,886
19$6,954,830$1,669,159$201,690$5,083,981
20$7,302,572$1,752,617$211,775$5,338,180
21$7,667,700$1,840,248$222,363$5,605,089
22$8,051,085$1,932,260$233,481$5,885,343
23$8,453,639$2,028,873$245,156$6,179,610
24$8,876,321$2,130,317$257,413$6,488,591
25$9,320,137$2,236,833$270,284$6,813,020
26$9,786,144$2,348,675$283,798$7,153,672
27$10,275,452$2,466,108$297,988$7,511,355
28$10,789,224$2,589,414$312,887$7,886,923
29$11,328,685$2,718,884$328,532$8,281,269
30$11,895,120$2,854,829$344,958$8,695,332
Total$192,000,000$46,080,000$5,568,000$140,352,000
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