REDUX: MegaMillions Jackpot Friday Night is $280M!! Take a Look at Payout Analysis Here.

June 9, 2016

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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. Figures provided are estimates and are for entertainment purposes only.

Annuity

Cash

Mega Millions Jackpot for Fri, Jun 10, 2016

$280,000,000

$186,500,000

Gross Prize

30 average annual payments of $9,333,333

Lump-sum cash: $186,500,000

– 25% Federal Tax

– $2,333,333

– $46,625,000

Subtotal

$7,000,000

$139,875,000

State:	Florida
Drawing Date:	Fri, Jun 10, 2016
Jackpot:	$280,000,000
Federal Tax:	25%, but it will be a lot more when you file your taxes.
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	$4,214,402	$1,053,600	$0	$3,160,801
2	$4,425,122	$1,106,280	$0	$3,318,841
3	$4,646,378	$1,161,594	$0	$3,484,783
4	$4,878,697	$1,219,674	$0	$3,659,023
5	$5,122,632	$1,280,658	$0	$3,841,974
6	$5,378,763	$1,344,691	$0	$4,034,072
7	$5,647,702	$1,411,925	$0	$4,235,776
8	$5,930,087	$1,482,522	$0	$4,447,565
9	$6,226,591	$1,556,648	$0	$4,669,943
10	$6,537,920	$1,634,480	$0	$4,903,440
11	$6,864,817	$1,716,204	$0	$5,148,612
12	$7,208,057	$1,802,014	$0	$5,406,043
13	$7,568,460	$1,892,115	$0	$5,676,345
14	$7,946,883	$1,986,721	$0	$5,960,162
15	$8,344,227	$2,086,057	$0	$6,258,171
16	$8,761,439	$2,190,360	$0	$6,571,079
17	$9,199,511	$2,299,878	$0	$6,899,633
18	$9,659,486	$2,414,872	$0	$7,244,615
19	$10,142,460	$2,535,615	$0	$7,606,845
20	$10,649,584	$2,662,396	$0	$7,987,188
21	$11,182,063	$2,795,516	$0	$8,386,547
22	$11,741,166	$2,935,291	$0	$8,805,874
23	$12,328,224	$3,082,056	$0	$9,246,168
24	$12,944,635	$3,236,159	$0	$9,708,476
25	$13,591,867	$3,397,967	$0	$10,193,900
26	$14,271,461	$3,567,865	$0	$10,703,595
27	$14,985,034	$3,746,258	$0	$11,238,775
28	$15,734,285	$3,933,571	$0	$11,800,714
29	$16,520,999	$4,130,250	$0	$12,390,749
30	$17,347,049	$4,336,762	$0	$13,010,287
Total	$280,000,001	$70,000,000	$0	$210,000,000

Credit: USAMega.com

Mega Millions Jackpot for Fri, Jun 10, 2016

$280,000,000

$186,500,000

Gross Prize

30 average annual payments of $9,333,333

Lump-sum cash: $186,500,000

– 25% Federal Tax

– $2,333,333

– $46,625,000

Subtotal

$7,000,000

$139,875,000

State:

Florida

Drawing Date:

Fri, Jun 10, 2016

Jackpot:

$280,000,000

Federal Tax:

25%, but it will be a lot more when you file your taxes.

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

$4,214,402

$1,053,600

$0

$3,160,801

2

$4,425,122

$1,106,280

$0

$3,318,841

3

$4,646,378

$1,161,594

$0

$3,484,783

4

$4,878,697

$1,219,674

$0

$3,659,023

5

$5,122,632

$1,280,658

$0

$3,841,974

6

$5,378,763

$1,344,691

$0

$4,034,072

7

$5,647,702

$1,411,925

$0

$4,235,776

8

$5,930,087

$1,482,522

$0

$4,447,565

9

$6,226,591

$1,556,648

$0

$4,669,943

10

$6,537,920

$1,634,480

$0

$4,903,440

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