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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 $60,000,000 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, Jun 25, 2019
Jackpot:$60,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$216,741$26,189$660,156
2$948,240$227,578$27,499$693,164
3$995,652$238,957$28,874$727,822
4$1,045,435$250,904$30,318$764,213
5$1,097,707$263,450$31,833$802,424
6$1,152,592$276,622$33,425$842,545
7$1,210,222$290,453$35,096$884,672
8$1,270,733$304,976$36,851$928,906
9$1,334,270$320,225$38,694$975,351
10$1,400,983$336,236$40,629$1,024,119
11$1,471,032$353,048$42,660$1,075,324
12$1,544,584$370,700$44,793$1,129,091
13$1,621,813$389,235$47,033$1,185,545
14$1,702,904$408,697$49,384$1,244,823
15$1,788,049$429,132$51,853$1,307,064
16$1,877,451$450,588$54,446$1,372,417
17$1,971,324$473,118$57,168$1,441,038
18$2,069,890$496,774$60,027$1,513,090
19$2,173,384$521,612$63,028$1,588,744
20$2,282,054$547,693$66,180$1,668,181
21$2,396,156$575,078$69,489$1,751,590
22$2,515,964$603,831$72,963$1,839,170
23$2,641,762$634,023$76,611$1,931,128
24$2,773,850$665,724$80,442$2,027,685
25$2,912,543$699,010$84,464$2,129,069
26$3,058,170$733,961$88,687$2,235,522
27$3,211,079$770,659$93,121$2,347,298
28$3,371,633$809,192$97,777$2,464,663
29$3,540,214$849,651$102,666$2,587,897
30$3,717,225$892,134$107,800$2,717,291
Total$60,000,000$14,400,000$1,740,000$43,860,000
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