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Mega Millions Annuity Jackpot Analysis for North Dakota (Apr. 14, 2020 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 $145,000,000 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:  Apr. 14, 2020
Jackpot:$145,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,182,458$523,790$63,291$1,595,377
2$2,291,581$549,979$66,456$1,675,146
3$2,406,160$577,478$69,779$1,758,903
4$2,526,468$606,352$73,268$1,846,848
5$2,652,791$636,670$76,931$1,939,191
6$2,785,431$668,503$80,777$2,036,150
7$2,924,703$701,929$84,816$2,137,958
8$3,070,938$737,025$89,057$2,244,855
9$3,224,485$773,876$93,510$2,357,098
10$3,385,709$812,570$98,186$2,474,953
11$3,554,994$853,199$103,095$2,598,701
12$3,732,744$895,859$108,250$2,728,636
13$3,919,381$940,651$113,662$2,865,068
14$4,115,350$987,684$119,345$3,008,321
15$4,321,118$1,037,068$125,312$3,158,737
16$4,537,174$1,088,922$131,578$3,316,674
17$4,764,032$1,143,368$138,157$3,482,508
18$5,002,234$1,200,536$145,065$3,656,633
19$5,252,346$1,260,563$152,318$3,839,465
20$5,514,963$1,323,591$159,934$4,031,438
21$5,790,711$1,389,771$167,931$4,233,010
22$6,080,247$1,459,259$176,327$4,444,660
23$6,384,259$1,532,222$185,144$4,666,893
24$6,703,472$1,608,833$194,401$4,900,238
25$7,038,645$1,689,275$204,121$5,145,250
26$7,390,578$1,773,739$214,327$5,402,512
27$7,760,107$1,862,426$225,043$5,672,638
28$8,148,112$1,955,547$236,295$5,956,270
29$8,555,518$2,053,324$248,110$6,254,083
30$8,983,293$2,155,990$260,516$6,566,788
Total$145,000,000$34,800,000$4,205,000$105,995,000
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