USA Mega

California Mega Millions Jackpot Annuity Payout Schedule for Aug 14, 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 $17,000,000 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, Aug 14, 1998
Jackpot:$17,000,000
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$255,874$59,931$0$195,944
2$268,668$64,409$0$204,260
3$282,102$69,110$0$212,991
4$296,207$74,047$0$222,160
5$311,017$79,231$0$231,786
6$326,568$84,673$0$241,894
7$342,896$90,388$0$252,508
8$360,041$96,389$0$263,652
9$378,043$102,690$0$275,353
10$396,945$109,306$0$287,640
11$416,792$116,252$0$300,540
12$437,632$123,546$0$314,086
13$459,514$131,205$0$328,309
14$482,489$139,246$0$343,243
15$506,614$147,690$0$358,924
16$531,945$156,555$0$375,389
17$558,542$165,864$0$392,677
18$586,469$175,639$0$410,830
19$615,792$186,031$0$429,761
20$646,582$197,423$0$449,159
21$678,911$209,385$0$469,526
22$712,856$221,945$0$490,912
23$748,499$235,132$0$513,367
24$785,924$248,980$0$536,945
25$825,220$263,519$0$561,701
26$866,482$278,786$0$587,696
27$909,806$294,816$0$614,990
28$955,296$311,647$0$643,649
29$1,003,061$329,320$0$673,740
30$1,053,214$347,877$0$705,337
Total$17,000,000$5,111,032$0$11,888,969

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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.