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Mega Millions Annuity Jackpot Analysis for Pennsylvania (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$149,252$3,545,575
2$5,104,694$1,225,127$156,714$3,722,854
3$5,359,929$1,286,383$164,550$3,908,996
4$5,627,926$1,350,702$172,777$4,104,446
5$5,909,321$1,418,237$181,416$4,309,668
6$6,204,788$1,489,149$190,487$4,525,152
7$6,515,027$1,563,607$200,011$4,751,409
8$6,840,779$1,641,787$210,012$4,988,980
9$7,182,817$1,723,876$220,512$5,238,429
10$7,541,958$1,810,070$231,538$5,500,350
11$7,919,056$1,900,573$243,115$5,775,368
12$8,315,009$1,995,602$255,271$6,064,136
13$8,730,759$2,095,382$268,034$6,367,343
14$9,167,297$2,200,151$281,436$6,685,710
15$9,625,662$2,310,159$295,508$7,019,995
16$10,106,946$2,425,667$310,283$7,370,995
17$10,612,293$2,546,950$325,797$7,739,545
18$11,142,907$2,674,298$342,087$8,126,522
19$11,700,053$2,808,013$359,192$8,532,848
20$12,285,055$2,948,413$377,151$8,959,491
21$12,899,308$3,095,834$396,009$9,407,465
22$13,544,273$3,250,626$415,809$9,877,839
23$14,221,487$3,413,157$436,600$10,371,731
24$14,932,561$3,583,815$458,430$10,890,317
25$15,679,189$3,763,005$481,351$11,434,833
26$16,463,149$3,951,156$505,419$12,006,575
27$17,286,307$4,148,714$530,690$12,606,903
28$18,150,622$4,356,149$557,224$13,237,248
29$19,058,153$4,573,957$585,085$13,899,111
30$20,011,061$4,802,655$614,340$14,594,066
Total$323,000,001$77,520,000$9,916,100$235,563,900
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