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Mega Millions Annuity Jackpot Analysis for Washington (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 Washington, 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:

Washington

Drawing Date:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$0$3,694,826
2$5,104,694$1,225,127$0$3,879,568
3$5,359,929$1,286,383$0$4,073,546
4$5,627,926$1,350,702$0$4,277,223
5$5,909,321$1,418,237$0$4,491,084
6$6,204,788$1,489,149$0$4,715,639
7$6,515,027$1,563,607$0$4,951,421
8$6,840,779$1,641,787$0$5,198,992
9$7,182,817$1,723,876$0$5,458,941
10$7,541,958$1,810,070$0$5,731,888
11$7,919,056$1,900,573$0$6,018,483
12$8,315,009$1,995,602$0$6,319,407
13$8,730,759$2,095,382$0$6,635,377
14$9,167,297$2,200,151$0$6,967,146
15$9,625,662$2,310,159$0$7,315,503
16$10,106,946$2,425,667$0$7,681,279
17$10,612,293$2,546,950$0$8,065,342
18$11,142,907$2,674,298$0$8,468,610
19$11,700,053$2,808,013$0$8,892,040
20$12,285,055$2,948,413$0$9,336,642
21$12,899,308$3,095,834$0$9,803,474
22$13,544,273$3,250,626$0$10,293,648
23$14,221,487$3,413,157$0$10,808,330
24$14,932,561$3,583,815$0$11,348,747
25$15,679,189$3,763,005$0$11,916,184
26$16,463,149$3,951,156$0$12,511,993
27$17,286,307$4,148,714$0$13,137,593
28$18,150,622$4,356,149$0$13,794,472
29$19,058,153$4,573,957$0$14,484,196
30$20,011,061$4,802,655$0$15,208,406
Total$323,000,001$77,520,000$0$245,480,000
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