USA Mega

Louisiana Mega Millions Jackpot Annuity Payout Schedule for Aug 6, 2013

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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 $20,000,000 for a ticket purchased in Louisiana, 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:

Louisiana

Drawing Date:Tue, Aug 6, 2013
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,113$14,299$207,617
2$316,080$84,381$15,014$216,685
3$331,884$89,912$15,764$226,207
4$348,478$95,720$16,553$236,205
5$365,902$101,819$17,380$246,703
6$384,197$108,222$18,249$257,726
7$403,407$114,946$19,162$269,300
8$423,578$122,005$20,120$281,453
9$444,757$129,418$21,126$294,213
10$466,994$137,201$22,182$307,611
11$490,344$145,373$23,291$321,679
12$514,861$153,954$24,456$336,451
13$540,604$162,979$25,679$351,947
14$567,635$172,980$26,963$367,692
15$596,016$183,481$28,311$384,224
16$625,817$194,507$29,726$401,583
17$657,108$206,085$31,213$419,810
18$689,963$218,241$32,773$438,949
19$724,461$231,006$34,412$459,044
20$760,685$244,408$36,133$480,144
21$798,719$258,481$37,939$502,299
22$838,655$273,257$39,836$525,561
23$880,587$288,772$41,828$549,987
24$924,617$305,063$43,919$575,634
25$970,848$322,169$46,115$602,564
26$1,019,390$340,129$48,421$630,840
27$1,070,360$358,988$50,842$660,529
28$1,123,878$378,790$53,384$691,704
29$1,180,071$399,581$56,053$724,437
30$1,239,075$421,413$58,856$758,806
Total$20,000,000$6,322,394$949,999$12,727,604

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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.