USA Mega

California Mega Millions Jackpot Annuity Payout Schedule for Dec 18, 1998

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 $10,000,000 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, Dec 18, 1998
Jackpot:$10,000,000
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$150,514$29,166$0$121,348
2$158,040$30,972$0$127,068
3$165,942$32,869$0$133,073
4$174,239$34,860$0$139,379
5$182,951$36,951$0$146,000
6$192,099$39,158$0$152,941
7$201,704$42,232$0$159,472
8$211,789$45,459$0$166,330
9$222,378$48,848$0$173,531
10$233,497$52,406$0$181,092
11$245,172$56,185$0$188,987
12$257,431$60,475$0$196,955
13$270,302$64,981$0$205,322
14$283,817$69,711$0$214,106
15$298,008$74,678$0$223,331
16$312,909$79,893$0$233,016
17$328,554$85,369$0$243,185
18$344,982$91,118$0$253,863
19$362,231$97,156$0$265,075
20$380,342$103,495$0$276,848
21$399,359$110,151$0$289,209
22$419,327$117,139$0$302,188
23$440,294$124,478$0$315,816
24$462,308$132,183$0$330,126
25$485,424$140,273$0$345,151
26$509,695$148,768$0$360,927
27$535,180$157,688$0$377,492
28$561,939$167,053$0$394,885
29$590,036$176,887$0$413,148
30$619,537$187,417$0$432,121
Total$10,000,000$2,638,019$0$7,361,985

◄ 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.