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Mega Millions Annuity Jackpot Analysis for Wisconsin (Jan. 8, 2019 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 $45,000,000 would be for a resident of Wisconsin, 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:

Wisconsin

Drawing Date:  Jan. 8, 2019
Jackpot:$45,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$51,815$462,945
2$711,180$170,683$54,405$486,092
3$746,739$179,217$57,126$510,396
4$784,076$188,178$59,982$535,916
5$823,280$197,587$62,981$562,712
6$864,444$207,467$66,130$590,848
7$907,666$217,840$69,436$620,390
8$953,050$228,732$72,908$651,409
9$1,000,702$240,169$76,554$683,980
10$1,050,737$252,177$80,381$718,179
11$1,103,274$264,786$84,400$754,088
12$1,158,438$278,025$88,620$791,792
13$1,216,360$291,926$93,052$831,382
14$1,277,178$306,523$97,704$872,951
15$1,341,037$321,849$102,589$916,598
16$1,408,088$337,941$107,719$962,428
17$1,478,493$354,838$113,105$1,010,550
18$1,552,417$372,580$118,760$1,061,077
19$1,630,038$391,209$124,698$1,114,131
20$1,711,540$410,770$130,933$1,169,838
21$1,797,117$431,308$137,479$1,228,330
22$1,886,973$452,874$144,353$1,289,746
23$1,981,322$475,517$151,571$1,354,233
24$2,080,388$499,293$159,150$1,421,945
25$2,184,407$524,258$167,107$1,493,042
26$2,293,628$550,471$175,463$1,567,694
27$2,408,309$577,994$184,236$1,646,079
28$2,528,724$606,894$193,447$1,728,383
29$2,655,161$637,239$203,120$1,814,802
30$2,787,919$669,100$213,276$1,905,542
Total$45,000,000$10,800,000$3,442,500$30,757,500
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