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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 $55,000,000 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, Jun 21, 2019
Jackpot:$55,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$198,679$25,414$603,736
2$869,220$208,613$26,685$633,922
3$912,681$219,044$28,019$665,619
4$958,315$229,996$29,420$698,899
5$1,006,231$241,495$30,891$733,844
6$1,056,543$253,570$32,436$770,537
7$1,109,370$266,249$34,058$809,064
8$1,164,838$279,561$35,761$849,517
9$1,223,080$293,539$37,549$891,993
10$1,284,234$308,216$39,426$936,592
11$1,348,446$323,627$41,397$983,422
12$1,415,868$339,808$43,467$1,032,593
13$1,486,662$356,799$45,641$1,084,222
14$1,560,995$374,639$47,923$1,138,434
15$1,639,045$393,371$50,319$1,195,355
16$1,720,997$413,039$52,835$1,255,123
17$1,807,047$433,691$55,476$1,317,879
18$1,897,399$455,376$58,250$1,383,773
19$1,992,269$478,145$61,163$1,452,962
20$2,091,882$502,052$64,221$1,525,610
21$2,196,477$527,154$67,432$1,601,890
22$2,306,300$553,512$70,803$1,681,985
23$2,421,615$581,188$74,344$1,766,084
24$2,542,696$610,247$78,061$1,854,388
25$2,669,831$640,759$81,964$1,947,108
26$2,803,323$672,797$86,062$2,044,463
27$2,943,489$706,437$90,365$2,146,686
28$3,090,663$741,759$94,883$2,254,021
29$3,245,196$778,847$99,628$2,366,722
30$3,407,456$817,789$104,609$2,485,058
Total$55,000,000$13,200,000$1,688,500$40,111,500
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