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Mega Millions Annuity Jackpot Analysis for New Hampshire (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 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:  Apr. 14, 2020
Jackpot:$145,000,000
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$2,182,458$523,790$0$1,658,668
2$2,291,581$549,979$0$1,741,602
3$2,406,160$577,478$0$1,828,682
4$2,526,468$606,352$0$1,920,116
5$2,652,791$636,670$0$2,016,121
6$2,785,431$668,503$0$2,116,928
7$2,924,703$701,929$0$2,222,774
8$3,070,938$737,025$0$2,333,913
9$3,224,485$773,876$0$2,450,608
10$3,385,709$812,570$0$2,573,139
11$3,554,994$853,199$0$2,701,796
12$3,732,744$895,859$0$2,836,885
13$3,919,381$940,651$0$2,978,730
14$4,115,350$987,684$0$3,127,666
15$4,321,118$1,037,068$0$3,284,049
16$4,537,174$1,088,922$0$3,448,252
17$4,764,032$1,143,368$0$3,620,665
18$5,002,234$1,200,536$0$3,801,698
19$5,252,346$1,260,563$0$3,991,783
20$5,514,963$1,323,591$0$4,191,372
21$5,790,711$1,389,771$0$4,400,940
22$6,080,247$1,459,259$0$4,620,987
23$6,384,259$1,532,222$0$4,852,037
24$6,703,472$1,608,833$0$5,094,639
25$7,038,645$1,689,275$0$5,349,370
26$7,390,578$1,773,739$0$5,616,839
27$7,760,107$1,862,426$0$5,897,681
28$8,148,112$1,955,547$0$6,192,565
29$8,555,518$2,053,324$0$6,502,193
30$8,983,293$2,155,990$0$6,827,303
Total$145,000,000$34,800,000$0$110,200,000
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