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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 $245,000,000 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, Feb 26, 2019
Jackpot:$245,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,687,602$885,024$106,940$2,695,637
2$3,871,982$929,276$112,287$2,830,419
3$4,065,581$975,739$117,902$2,971,940
4$4,268,860$1,024,526$123,797$3,120,537
5$4,482,303$1,075,753$129,987$3,276,563
6$4,706,418$1,129,540$136,486$3,440,391
7$4,941,739$1,186,017$143,310$3,612,411
8$5,188,826$1,245,318$150,476$3,793,032
9$5,448,267$1,307,584$158,000$3,982,683
10$5,720,680$1,372,963$165,900$4,181,817
11$6,006,714$1,441,611$174,195$4,390,908
12$6,307,050$1,513,692$182,904$4,610,454
13$6,622,403$1,589,377$192,050$4,840,976
14$6,953,523$1,668,845$201,652$5,083,025
15$7,301,199$1,752,288$211,735$5,337,176
16$7,666,259$1,839,902$222,322$5,604,035
17$8,049,572$1,931,897$233,438$5,884,237
18$8,452,050$2,028,492$245,109$6,178,449
19$8,874,653$2,129,917$257,365$6,487,371
20$9,318,386$2,236,413$270,233$6,811,740
21$9,784,305$2,348,233$283,745$7,152,327
22$10,273,520$2,465,645$297,932$7,509,943
23$10,787,196$2,588,927$312,829$7,885,440
24$11,326,556$2,718,373$328,470$8,279,712
25$11,892,884$2,854,292$344,894$8,693,698
26$12,487,528$2,997,007$362,138$9,128,383
27$13,111,904$3,146,857$380,245$9,584,802
28$13,767,499$3,304,200$399,257$10,064,042
29$14,455,874$3,469,410$419,220$10,567,244
30$15,178,668$3,642,880$440,181$11,095,606
Total$245,000,000$58,800,000$7,105,000$179,095,000
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