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Mega Millions Annuity Jackpot Analysis for Pennsylvania

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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 $235,000,000 would be for a resident of Pennsylvania, 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:

Pennsylvania

Drawing Date:  Tue, May 31, 2016
Jackpot:$235,000,000
Federal Tax:  25%
State Tax:No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,537,087$884,272$0$2,652,815
2$3,713,942$928,485$0$2,785,456
3$3,899,639$974,910$0$2,924,729
4$4,094,621$1,023,655$0$3,070,966
5$4,299,352$1,074,838$0$3,224,514
6$4,514,319$1,128,580$0$3,385,739
7$4,740,035$1,185,009$0$3,555,026
8$4,977,037$1,244,259$0$3,732,778
9$5,225,889$1,306,472$0$3,919,417
10$5,487,183$1,371,796$0$4,115,387
11$5,761,542$1,440,386$0$4,321,157
12$6,049,620$1,512,405$0$4,537,215
13$6,352,101$1,588,025$0$4,764,075
14$6,669,706$1,667,426$0$5,002,279
15$7,003,191$1,750,798$0$5,252,393
16$7,353,350$1,838,338$0$5,515,013
17$7,721,018$1,930,254$0$5,790,763
18$8,107,069$2,026,767$0$6,080,302
19$8,512,422$2,128,106$0$6,384,317
20$8,938,043$2,234,511$0$6,703,533
21$9,384,945$2,346,236$0$7,038,709
22$9,854,193$2,463,548$0$7,390,645
23$10,346,902$2,586,726$0$7,760,177
24$10,864,247$2,716,062$0$8,148,186
25$11,407,460$2,851,865$0$8,555,595
26$11,977,833$2,994,458$0$8,983,375
27$12,576,725$3,144,181$0$9,432,543
28$13,205,561$3,301,390$0$9,904,170
29$13,865,839$3,466,460$0$10,399,379
30$14,559,131$3,639,783$0$10,919,348
Total$235,000,000$58,750,000$0$176,250,000
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