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Mega Millions Annuity Jackpot Analysis for Pennsylvania (Nov. 9, 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 $90,000,000 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. 9, 2018
Jackpot:$90,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,354,629$325,111$41,587$987,931
2$1,422,361$341,367$43,666$1,037,328
3$1,493,479$358,435$45,850$1,089,194
4$1,568,153$376,357$48,142$1,143,654
5$1,646,560$395,174$50,549$1,200,836
6$1,728,888$414,933$53,077$1,260,878
7$1,815,333$435,680$55,731$1,323,922
8$1,906,099$457,464$58,517$1,390,118
9$2,001,404$480,337$61,443$1,459,624
10$2,101,474$504,354$64,515$1,532,605
11$2,206,548$529,572$67,741$1,609,236
12$2,316,876$556,050$71,128$1,689,697
13$2,432,719$583,853$74,684$1,774,182
14$2,554,355$613,045$78,419$1,862,891
15$2,682,073$643,698$82,340$1,956,036
16$2,816,177$675,882$86,457$2,053,838
17$2,956,986$709,677$90,779$2,156,530
18$3,104,835$745,160$95,318$2,264,356
19$3,260,077$782,418$100,084$2,377,574
20$3,423,080$821,539$105,089$2,496,453
21$3,594,234$862,616$110,343$2,621,275
22$3,773,946$905,747$115,860$2,752,339
23$3,962,643$951,034$121,653$2,889,956
24$4,160,776$998,586$127,736$3,034,454
25$4,368,814$1,048,515$134,123$3,186,176
26$4,587,255$1,100,941$140,829$3,345,485
27$4,816,618$1,155,988$147,870$3,512,759
28$5,057,449$1,213,788$155,264$3,688,397
29$5,310,321$1,274,477$163,027$3,872,817
30$5,575,837$1,338,201$171,178$4,066,458
Total$90,000,000$21,600,000$2,763,000$65,637,000
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