Tuesday’s MegaMillions Jackpot: $203M. Will you take cash or annual payments? See payout chart here.

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Important: All annuity amounts shown are the average amounts a jackpot winner would receive.  Mega Millions annuity payments are made on an annually-increasing rate schedule.

Annuity

Cash

Mega Millions Jackpot for Tue, May 24, 2016

$203,000,000

$132,100,000

 

State:

Florida
Drawing Date:   Tue, May 24, 2016
Jackpot: $203,000,000
Federal Tax: 25%
State Tax: No state tax on lottery prizes
Report: Mega Millions annuity payout schedule (30 annual payments)

 

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $3,055,441 $763,860 $0 $2,291,581
2 $3,208,213 $802,053 $0 $2,406,160
3 $3,368,624 $842,156 $0 $2,526,468
4 $3,537,055 $884,264 $0 $2,652,792
5 $3,713,908 $928,477 $0 $2,785,431
6 $3,899,603 $974,901 $0 $2,924,703
7 $4,094,584 $1,023,646 $0 $3,070,938
8 $4,299,313 $1,074,828 $0 $3,224,485
9 $4,514,278 $1,128,570 $0 $3,385,709
10 $4,739,992 $1,184,998 $0 $3,554,994
11 $4,976,992 $1,244,248 $0 $3,732,744
12 $5,225,842 $1,306,460 $0 $3,919,381
13 $5,487,134 $1,371,783 $0 $4,115,350
14 $5,761,490 $1,440,373 $0 $4,321,118
15 $6,049,565 $1,512,391 $0 $4,537,174
16 $6,352,043 $1,588,011 $0 $4,764,032
17 $6,669,645 $1,667,411 $0 $5,002,234
18 $7,003,127 $1,750,782 $0 $5,252,346
19 $7,353,284 $1,838,321 $0 $5,514,963
20 $7,720,948 $1,930,237 $0 $5,790,711
21 $8,106,995 $2,026,749 $0 $6,080,247
22 $8,512,345 $2,128,086 $0 $6,384,259
23 $8,937,963 $2,234,491 $0 $6,703,472
24 $9,384,861 $2,346,215 $0 $7,038,645
25 $9,854,104 $2,463,526 $0 $7,390,578
26 $10,346,809 $2,586,702 $0 $7,760,107
27 $10,864,149 $2,716,037 $0 $8,148,112
28 $11,407,357 $2,851,839 $0 $8,555,517
29 $11,977,725 $2,994,431 $0 $8,983,293
30 $12,576,611 $3,144,153 $0 $9,432,458
Total $203,000,000 $50,750,000 $0 $152,250,000
 

Credit:  USAMega.com

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