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Mega Millions Annuity Jackpot Analysis for New Hampshire

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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 $22,000,000 would be for a resident of New Hampshire, 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:

New Hampshire

Drawing Date:  Fri, Aug 7, 2020
Jackpot:$22,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$79,472$0$251,660
2$347,688$83,445$0$264,243
3$365,073$87,617$0$277,455
4$383,326$91,998$0$291,328
5$402,492$96,598$0$305,894
6$422,617$101,428$0$321,189
7$443,748$106,500$0$337,248
8$465,935$111,824$0$354,111
9$489,232$117,416$0$371,816
10$513,694$123,287$0$390,407
11$539,378$129,451$0$409,928
12$566,347$135,923$0$430,424
13$594,665$142,720$0$451,945
14$624,398$149,856$0$474,542
15$655,618$157,348$0$498,270
16$688,399$165,216$0$523,183
17$722,819$173,476$0$549,342
18$758,960$182,150$0$576,809
19$796,908$191,258$0$605,650
20$836,753$200,821$0$635,932
21$878,591$210,862$0$667,729
22$922,520$221,405$0$701,115
23$968,646$232,475$0$736,171
24$1,017,078$244,099$0$772,980
25$1,067,932$256,304$0$811,629
26$1,121,329$269,119$0$852,210
27$1,177,395$282,575$0$894,821
28$1,236,265$296,704$0$939,562
29$1,298,079$311,539$0$986,540
30$1,362,982$327,116$0$1,035,867
Total$22,000,000$5,280,000$0$16,720,000
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