USA Mega

California Mega Millions Jackpot Annuity Payout Schedule for Mar 17, 1998

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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 $23,000,000 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:Tue, Mar 17, 1998
Jackpot:$23,000,000
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$346,183$91,539$0$254,644
2$363,492$97,597$0$265,895
3$381,667$103,958$0$277,709
4$400,750$110,637$0$290,113
5$420,788$117,650$0$303,137
6$441,827$125,014$0$316,813
7$463,918$132,746$0$331,172
8$487,114$140,865$0$346,250
9$511,470$149,389$0$362,081
10$537,043$158,340$0$378,704
11$563,896$167,738$0$396,157
12$592,090$177,606$0$414,484
13$621,695$188,215$0$433,480
14$652,780$199,716$0$453,063
15$685,419$211,793$0$473,626
16$719,690$224,473$0$495,217
17$755,674$237,787$0$517,887
18$793,458$251,767$0$541,691
19$833,131$266,446$0$566,685
20$874,787$281,859$0$592,928
21$918,527$298,043$0$620,484
22$964,453$315,035$0$649,418
23$1,012,676$332,878$0$679,798
24$1,063,309$351,612$0$711,697
25$1,116,475$371,283$0$745,191
26$1,172,299$391,938$0$780,360
27$1,230,913$413,626$0$817,288
28$1,292,459$436,398$0$856,061
29$1,357,082$460,308$0$896,774
30$1,424,936$485,414$0$939,522
Total$23,000,000$7,291,670$0$15,708,329

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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.