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Mega Millions Annuity Jackpot Analysis for Wisconsin (Dec. 21, 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 $305,000,000 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:  Dec. 21, 2018
Jackpot:$305,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,590,688$1,101,765$351,188$3,137,735
2$4,820,222$1,156,853$368,747$3,294,622
3$5,061,233$1,214,696$387,184$3,459,353
4$5,314,295$1,275,431$406,544$3,632,321
5$5,580,009$1,339,202$426,871$3,813,936
6$5,859,010$1,406,162$448,214$4,004,633
7$6,151,961$1,476,471$470,625$4,204,865
8$6,459,559$1,550,294$494,156$4,415,108
9$6,782,537$1,627,809$518,864$4,635,864
10$7,121,663$1,709,199$544,807$4,867,657
11$7,477,747$1,794,659$572,048$5,111,040
12$7,851,634$1,884,392$600,650$5,366,592
13$8,244,216$1,978,612$630,682$5,634,921
14$8,656,426$2,077,542$662,217$5,916,667
15$9,089,248$2,181,419$695,327$6,212,501
16$9,543,710$2,290,490$730,094$6,523,126
17$10,020,895$2,405,015$766,599$6,849,282
18$10,521,940$2,525,266$804,928$7,191,746
19$11,048,037$2,651,529$845,175$7,551,333
20$11,600,439$2,784,105$887,434$7,928,900
21$12,180,461$2,923,311$931,805$8,325,345
22$12,789,484$3,069,476$978,396$8,741,612
23$13,428,958$3,222,950$1,027,315$9,178,693
24$14,100,406$3,384,097$1,078,681$9,637,628
25$14,805,427$3,553,302$1,132,615$10,119,509
26$15,545,698$3,730,968$1,189,246$10,625,485
27$16,322,983$3,917,516$1,248,708$11,156,759
28$17,139,132$4,113,392$1,311,144$11,714,597
29$17,996,089$4,319,061$1,376,701$12,300,327
30$18,895,893$4,535,014$1,445,536$12,915,343
Total$305,000,001$73,200,000$23,332,500$208,467,500
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