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Mega Millions Annuity Jackpot Analysis for Wisconsin (Nov. 6, 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 $70,000,000 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:  Nov. 6, 2018
Jackpot:$70,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,053,600$252,864$80,600$720,136
2$1,106,280$265,507$84,630$756,143
3$1,161,594$278,783$88,862$793,950
4$1,219,674$292,722$93,305$833,647
5$1,280,658$307,358$97,970$875,330
6$1,344,691$322,726$102,869$919,096
7$1,411,925$338,862$108,012$965,051
8$1,482,522$355,805$113,413$1,013,304
9$1,556,648$373,595$119,084$1,063,969
10$1,634,480$392,275$125,038$1,117,167
11$1,716,204$411,889$131,290$1,173,026
12$1,802,014$432,483$137,854$1,231,677
13$1,892,115$454,108$144,747$1,293,261
14$1,986,721$476,813$151,984$1,357,924
15$2,086,057$500,654$159,583$1,425,820
16$2,190,360$525,686$167,563$1,497,111
17$2,299,878$551,971$175,941$1,571,966
18$2,414,872$579,569$184,738$1,650,565
19$2,535,615$608,548$193,975$1,733,093
20$2,662,396$638,975$203,673$1,819,748
21$2,795,516$670,924$213,857$1,910,735
22$2,935,291$704,470$224,550$2,006,272
23$3,082,056$739,693$235,777$2,106,585
24$3,236,159$776,678$247,566$2,211,915
25$3,397,967$815,512$259,944$2,322,510
26$3,567,865$856,288$272,942$2,438,636
27$3,746,258$899,102$286,589$2,560,568
28$3,933,571$944,057$300,918$2,688,596
29$4,130,250$991,260$315,964$2,823,026
30$4,336,762$1,040,823$331,762$2,964,177
Total$70,000,000$16,800,000$5,355,000$47,845,000
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