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Mega Millions Annuity Jackpot Analysis for Wisconsin (Oct. 16, 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 $667,000,000 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:  Oct. 16, 2018
Jackpot:$667,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,039,307$2,409,434$768,007$6,861,866
2$10,541,273$2,529,905$806,407$7,204,960
3$11,068,336$2,656,401$846,728$7,565,208
4$11,621,753$2,789,221$889,064$7,943,468
5$12,202,840$2,928,682$933,517$8,340,641
6$12,812,983$3,075,116$980,193$8,757,674
7$13,453,632$3,228,872$1,029,203$9,195,558
8$14,126,314$3,390,315$1,080,663$9,655,335
9$14,832,629$3,559,831$1,134,696$10,138,102
10$15,574,261$3,737,823$1,191,431$10,645,007
11$16,352,974$3,924,714$1,251,002$11,177,258
12$17,170,622$4,120,949$1,313,553$11,736,120
13$18,029,153$4,326,997$1,379,230$12,322,926
14$18,930,611$4,543,347$1,448,192$12,939,073
15$19,877,142$4,770,514$1,520,601$13,586,026
16$20,870,999$5,009,040$1,596,631$14,265,328
17$21,914,548$5,259,492$1,676,463$14,978,594
18$23,010,276$5,522,466$1,760,286$15,727,524
19$24,160,790$5,798,590$1,848,300$16,513,900
20$25,368,829$6,088,519$1,940,715$17,339,595
21$26,637,271$6,392,945$2,037,751$18,206,574
22$27,969,134$6,712,592$2,139,639$19,116,903
23$29,367,591$7,048,222$2,246,621$20,072,749
24$30,835,970$7,400,633$2,358,952$21,076,386
25$32,377,769$7,770,665$2,476,899$22,130,205
26$33,996,658$8,159,198$2,600,744$23,236,716
27$35,696,491$8,567,158$2,730,782$24,398,551
28$37,481,315$8,995,516$2,867,321$25,618,479
29$39,355,381$9,445,291$3,010,687$26,899,403
30$41,323,150$9,917,556$3,161,221$28,244,373
Total$667,000,001$160,080,000$51,025,500$455,894,501
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