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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 $90,000,000 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:  Fri, Aug 23, 2019
Jackpot:$90,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,354,629$325,111$39,284$990,234
2$1,422,361$341,367$41,248$1,039,746
3$1,493,479$358,435$43,311$1,091,733
4$1,568,153$376,357$45,476$1,146,320
5$1,646,560$395,174$47,750$1,203,635
6$1,728,888$414,933$50,138$1,263,817
7$1,815,333$435,680$52,645$1,327,008
8$1,906,099$457,464$55,277$1,393,359
9$2,001,404$480,337$58,041$1,463,027
10$2,101,474$504,354$60,943$1,536,178
11$2,206,548$529,572$63,990$1,612,987
12$2,316,876$556,050$67,189$1,693,636
13$2,432,719$583,853$70,549$1,778,318
14$2,554,355$613,045$74,076$1,867,234
15$2,682,073$643,698$77,780$1,960,595
16$2,816,177$675,882$81,669$2,058,625
17$2,956,986$709,677$85,753$2,161,556
18$3,104,835$745,160$90,040$2,269,634
19$3,260,077$782,418$94,542$2,383,116
20$3,423,080$821,539$99,269$2,502,272
21$3,594,234$862,616$104,233$2,627,385
22$3,773,946$905,747$109,444$2,758,755
23$3,962,643$951,034$114,917$2,896,692
24$4,160,776$998,586$120,662$3,041,527
25$4,368,814$1,048,515$126,696$3,193,603
26$4,587,255$1,100,941$133,030$3,353,284
27$4,816,618$1,155,988$139,682$3,520,948
28$5,057,449$1,213,788$146,666$3,696,995
29$5,310,321$1,274,477$153,999$3,881,845
30$5,575,837$1,338,201$161,699$4,075,937
Total$90,000,000$21,600,000$2,610,000$65,790,000
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