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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 $162,000,000 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:  Fri, Jan 20, 2017
Jackpot:$162,000,000
Federal Tax:  25%
State Tax:3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$609,583$74,857$1,753,893
2$2,560,249$640,062$78,600$1,841,587
3$2,688,262$672,065$82,530$1,933,667
4$2,822,675$705,669$86,656$2,030,350
5$2,963,808$740,952$90,989$2,131,867
6$3,111,999$778,000$95,538$2,238,461
7$3,267,599$816,900$100,315$2,350,384
8$3,430,979$857,745$105,331$2,467,903
9$3,602,528$900,632$110,598$2,591,298
10$3,782,654$945,663$116,127$2,720,863
11$3,971,787$992,947$121,934$2,856,906
12$4,170,376$1,042,594$128,031$2,999,751
13$4,378,895$1,094,724$134,432$3,149,739
14$4,597,840$1,149,460$141,154$3,307,226
15$4,827,732$1,206,933$148,211$3,472,587
16$5,069,118$1,267,280$155,622$3,646,217
17$5,322,574$1,330,643$163,403$3,828,527
18$5,588,703$1,397,176$171,573$4,019,954
19$5,868,138$1,467,034$180,152$4,220,952
20$6,161,545$1,540,386$189,159$4,431,999
21$6,469,622$1,617,405$198,617$4,653,599
22$6,793,103$1,698,276$208,548$4,886,279
23$7,132,758$1,783,190$218,976$5,130,593
24$7,489,396$1,872,349$229,924$5,387,123
25$7,863,866$1,965,966$241,421$5,656,479
26$8,257,059$2,064,265$253,492$5,939,303
27$8,669,912$2,167,478$266,166$6,236,268
28$9,103,408$2,275,852$279,475$6,548,081
29$9,558,578$2,389,645$293,448$6,875,485
30$10,036,507$2,509,127$308,121$7,219,260
Total$162,000,000$40,500,000$4,973,400$116,526,600
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