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Mega Millions Annuity Jackpot Analysis for North Dakota (Nov. 2, 2018 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 $52,000,000 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:  Nov. 2, 2018
Jackpot:$52,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$187,842$22,698$572,135
2$821,808$197,234$23,832$600,742
3$862,899$207,096$25,024$630,779
4$906,044$217,450$26,275$662,318
5$951,346$228,323$27,589$695,434
6$998,913$239,739$28,968$730,206
7$1,048,859$251,726$30,417$766,716
8$1,101,302$264,312$31,938$805,052
9$1,156,367$277,528$33,535$845,304
10$1,214,185$291,404$35,211$887,569
11$1,274,895$305,975$36,972$931,948
12$1,338,639$321,273$38,821$978,545
13$1,405,571$337,337$40,762$1,027,473
14$1,475,850$354,204$42,800$1,078,846
15$1,549,642$371,914$44,940$1,132,788
16$1,627,124$390,510$47,187$1,189,428
17$1,708,481$410,035$49,546$1,248,899
18$1,793,905$430,537$52,023$1,311,344
19$1,883,600$452,064$54,624$1,376,911
20$1,977,780$474,667$57,356$1,445,757
21$2,076,669$498,401$60,223$1,518,045
22$2,180,502$523,321$63,235$1,593,947
23$2,289,527$549,487$66,396$1,673,644
24$2,404,004$576,961$69,716$1,757,327
25$2,524,204$605,809$73,202$1,845,193
26$2,650,414$636,099$76,862$1,937,453
27$2,782,935$667,904$80,705$2,034,325
28$2,922,082$701,300$84,740$2,136,042
29$3,068,186$736,365$88,977$2,242,844
30$3,221,595$773,183$93,426$2,354,986
Total$52,000,000$12,480,000$1,508,000$38,012,000
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