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Mega Millions Annuity Jackpot Analysis for Pennsylvania (Nov. 2, 2018 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 $52,000,000 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:  Nov. 2, 2018
Jackpot:$52,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$187,842$24,028$570,805
2$821,808$197,234$25,230$599,345
3$862,899$207,096$26,491$629,312
4$906,044$217,450$27,816$660,778
5$951,346$228,323$29,206$693,817
6$998,913$239,739$30,667$728,507
7$1,048,859$251,726$32,200$764,933
8$1,101,302$264,312$33,810$803,179
9$1,156,367$277,528$35,500$843,338
10$1,214,185$291,404$37,275$885,505
11$1,274,895$305,975$39,139$929,781
12$1,338,639$321,273$41,096$976,270
13$1,405,571$337,337$43,151$1,025,083
14$1,475,850$354,204$45,309$1,076,337
15$1,549,642$371,914$47,574$1,130,154
16$1,627,124$390,510$49,953$1,186,662
17$1,708,481$410,035$52,450$1,245,995
18$1,793,905$430,537$55,073$1,308,295
19$1,883,600$452,064$57,827$1,373,709
20$1,977,780$474,667$60,718$1,442,395
21$2,076,669$498,401$63,754$1,514,515
22$2,180,502$523,321$66,941$1,590,240
23$2,289,527$549,487$70,288$1,669,752
24$2,404,004$576,961$73,803$1,753,240
25$2,524,204$605,809$77,493$1,840,902
26$2,650,414$636,099$81,368$1,932,947
27$2,782,935$667,904$85,436$2,029,594
28$2,922,082$701,300$89,708$2,131,074
29$3,068,186$736,365$94,193$2,237,628
30$3,221,595$773,183$98,903$2,349,509
Total$52,000,000$12,480,000$1,596,400$37,923,600
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