MegaMillions Jackpot: $293M on Tuesday, 14 June. See Payout Analysis 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, Jun 14, 2016   
$293,000,000
 
$198,200,000
Gross Prize
30 average annual payments of $9,766,667
Lump-sum cash: $198,200,000
– 25% Federal Tax
– $2,441,667
– $49,550,000
Subtotal

$7,325,000
 

$148,650,000

 

State:

Florida

Drawing Date:   Tue, Jun 14, 2016
Jackpot: $293,000,000
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 $4,410,070 $1,102,518 $0 $3,307,553
2 $4,630,574 $1,157,644 $0 $3,472,931
3 $4,862,103 $1,215,526 $0 $3,646,577
4 $5,105,208 $1,276,302 $0 $3,828,906
5 $5,360,468 $1,340,117 $0 $4,020,351
6 $5,628,492 $1,407,123 $0 $4,221,369
7 $5,909,916 $1,477,479 $0 $4,432,437
8 $6,205,412 $1,551,353 $0 $4,654,059
9 $6,515,683 $1,628,921 $0 $4,886,762
10 $6,841,467 $1,710,367 $0 $5,131,100
11 $7,183,540 $1,795,885 $0 $5,387,655
12 $7,542,717 $1,885,679 $0 $5,657,038
13 $7,919,853 $1,979,963 $0 $5,939,890
14 $8,315,846 $2,078,961 $0 $6,236,884
15 $8,731,638 $2,182,909 $0 $6,548,728
16 $9,168,220 $2,292,055 $0 $6,876,165
17 $9,626,631 $2,406,658 $0 $7,219,973
18 $10,107,962 $2,526,991 $0 $7,580,972
19 $10,613,360 $2,653,340 $0 $7,960,020
20 $11,144,029 $2,786,007 $0 $8,358,021
21 $11,701,230 $2,925,307 $0 $8,775,922
22 $12,286,291 $3,071,573 $0 $9,214,719
23 $12,900,606 $3,225,151 $0 $9,675,454
24 $13,545,636 $3,386,409 $0 $10,159,227
25 $14,222,918 $3,555,729 $0 $10,667,188
26 $14,934,064 $3,733,516 $0 $11,200,548
27 $15,680,767 $3,920,192 $0 $11,760,575
28 $16,464,805 $4,116,201 $0 $12,348,604
29 $17,288,046 $4,322,011 $0 $12,966,034
30 $18,152,448 $4,538,112 $0 $13,614,336
Total $293,000,001 $73,250,000 $0 $219,750,000

 

Credit:  USAMega.com

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