USA Mega

Washington, D.C. Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $120,000,000 for a ticket purchased in Washington, D.C., 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Washington, D.C.

Drawing Date:Fri, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$194,164$980,770
2$1,896,481$664,653$203,872$1,027,956
3$1,991,305$699,738$214,065$1,077,502
4$2,090,870$736,577$224,769$1,129,525
5$2,195,414$775,258$236,007$1,184,149
6$2,305,184$815,873$247,807$1,241,504
7$2,420,444$858,519$260,198$1,301,727
8$2,541,466$903,297$273,208$1,364,961
9$2,668,539$950,314$286,868$1,431,357
10$2,801,966$999,682$301,211$1,501,072
11$2,942,064$1,051,519$316,272$1,574,274
12$3,089,167$1,105,947$332,085$1,651,135
13$3,243,626$1,163,097$348,690$1,731,839
14$3,405,807$1,223,104$366,124$1,816,579
15$3,576,097$1,286,111$384,430$1,905,556
16$3,754,902$1,352,269$403,652$1,998,981
17$3,942,647$1,421,735$423,835$2,097,078
18$4,139,780$1,494,674$445,026$2,200,080
19$4,346,769$1,571,259$467,278$2,308,232
20$4,564,107$1,651,675$490,642$2,421,791
21$4,792,313$1,736,111$515,174$2,541,028
22$5,031,928$1,824,768$540,932$2,666,227
23$5,283,525$1,917,859$567,979$2,797,687
24$5,547,701$2,015,604$596,378$2,935,719
25$5,825,086$2,118,237$626,197$3,080,652
26$6,116,340$2,226,001$657,507$3,232,833
27$6,422,157$2,339,153$690,382$3,392,622
28$6,743,265$2,457,963$724,901$3,560,401
29$7,080,428$2,582,713$761,146$3,736,569
30$7,434,450$2,713,701$799,203$3,921,545
Total$120,000,000$43,288,650$12,900,002$63,811,351

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.