USA Mega

California Mega Millions Jackpot Annuity Payout Schedule for May 30, 1997

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2024 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 $8,000,000 for a ticket purchased in California, 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 money, as well as deductions claimed.

State:

California

Drawing Date:Fri, May 30, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,941$0$98,470
2$126,432$23,386$0$103,046
3$132,754$24,903$0$107,850
4$139,391$26,496$0$112,895
5$146,361$28,169$0$118,192
6$153,679$29,925$0$123,754
7$161,363$31,770$0$129,593
8$169,431$33,706$0$135,725
9$177,903$35,739$0$142,163
10$186,798$37,874$0$148,924
11$196,138$40,451$0$155,687
12$205,944$43,589$0$162,356
13$216,242$46,884$0$169,358
14$227,054$50,344$0$176,710
15$238,406$53,977$0$184,430
16$250,327$57,989$0$192,338
17$262,843$62,370$0$200,473
18$275,985$66,970$0$209,016
19$289,785$71,799$0$217,985
20$304,274$76,871$0$227,403
21$319,488$82,195$0$237,292
22$335,462$87,786$0$247,675
23$352,235$93,657$0$258,578
24$369,847$99,821$0$270,026
25$388,339$106,293$0$282,046
26$407,756$113,089$0$294,667
27$428,144$120,225$0$307,919
28$449,551$127,718$0$321,833
29$472,029$135,585$0$336,444
30$495,630$143,845$0$351,785
Total$8,000,000$1,975,367$0$6,024,633

◄ Back to Jackpot Analysis

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.