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Mega Millions Annuity Jackpot Analysis for Wyoming

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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 $224,000,000 would be for a resident of Wyoming, 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:

Wyoming

Drawing Date:  Fri, Feb 22, 2019
Jackpot:$224,000,000
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$3,371,521$809,165$0$2,562,356
2$3,540,098$849,623$0$2,690,474
3$3,717,102$892,105$0$2,824,998
4$3,902,958$936,710$0$2,966,248
5$4,098,105$983,545$0$3,114,560
6$4,303,011$1,032,723$0$3,270,288
7$4,518,161$1,084,359$0$3,433,803
8$4,744,069$1,138,577$0$3,605,493
9$4,981,273$1,195,505$0$3,785,767
10$5,230,336$1,255,281$0$3,975,056
11$5,491,853$1,318,045$0$4,173,808
12$5,766,446$1,383,947$0$4,382,499
13$6,054,768$1,453,144$0$4,601,624
14$6,357,507$1,525,802$0$4,831,705
15$6,675,382$1,602,092$0$5,073,290
16$7,009,151$1,682,196$0$5,326,955
17$7,359,608$1,766,306$0$5,593,302
18$7,727,589$1,854,621$0$5,872,968
19$8,113,968$1,947,352$0$6,166,616
20$8,519,667$2,044,720$0$6,474,947
21$8,945,650$2,146,956$0$6,798,694
22$9,392,933$2,254,304$0$7,138,629
23$9,862,579$2,367,019$0$7,495,560
24$10,355,708$2,485,370$0$7,870,338
25$10,873,494$2,609,638$0$8,263,855
26$11,417,168$2,740,120$0$8,677,048
27$11,988,027$2,877,126$0$9,110,900
28$12,587,428$3,020,983$0$9,566,445
29$13,216,799$3,172,032$0$10,044,768
30$13,877,640$3,330,633$0$10,547,006
Total$224,000,000$53,760,000$0$170,240,000
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