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Mega Millions Annuity Jackpot Analysis for North Dakota (Jan. 8, 2019 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 $45,000,000 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:  Jan. 8, 2019
Jackpot:$45,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$19,642$495,117
2$711,180$170,683$20,624$519,873
3$746,739$179,217$21,655$545,866
4$784,076$188,178$22,738$573,160
5$823,280$197,587$23,875$601,818
6$864,444$207,467$25,069$631,909
7$907,666$217,840$26,322$663,504
8$953,050$228,732$27,638$696,679
9$1,000,702$240,169$29,020$731,513
10$1,050,737$252,177$30,471$768,089
11$1,103,274$264,786$31,995$806,493
12$1,158,438$278,025$33,595$846,818
13$1,216,360$291,926$35,274$889,159
14$1,277,178$306,523$37,038$933,617
15$1,341,037$321,849$38,890$980,298
16$1,408,088$337,941$40,835$1,029,313
17$1,478,493$354,838$42,876$1,080,778
18$1,552,417$372,580$45,020$1,134,817
19$1,630,038$391,209$47,271$1,191,558
20$1,711,540$410,770$49,635$1,251,136
21$1,797,117$431,308$52,116$1,313,693
22$1,886,973$452,874$54,722$1,379,377
23$1,981,322$475,517$57,458$1,448,346
24$2,080,388$499,293$60,331$1,520,763
25$2,184,407$524,258$63,348$1,596,802
26$2,293,628$550,471$66,515$1,676,642
27$2,408,309$577,994$69,841$1,760,474
28$2,528,724$606,894$73,333$1,848,498
29$2,655,161$637,239$77,000$1,940,922
30$2,787,919$669,100$80,850$2,037,969
Total$45,000,000$10,800,000$1,305,000$32,895,000
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