USA Mega

California Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 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 $19,000,000 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, Aug 18, 1998
Jackpot:$19,000,000
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$285,977$70,467$0$215,510
2$300,276$75,471$0$224,805
3$315,290$80,726$0$234,564
4$331,054$86,244$0$244,811
5$347,607$92,037$0$255,570
6$364,988$98,120$0$266,867
7$383,237$104,508$0$278,729
8$402,399$111,214$0$291,184
9$422,519$118,256$0$304,262
10$443,645$125,650$0$317,994
11$465,827$133,414$0$332,413
12$489,118$141,566$0$347,552
13$513,574$150,126$0$363,448
14$539,253$159,113$0$380,140
15$566,215$168,550$0$397,665
16$594,526$178,459$0$416,067
17$624,253$189,161$0$435,091
18$655,465$200,710$0$454,755
19$688,238$212,836$0$475,402
20$722,650$225,568$0$497,082
21$758,783$238,937$0$519,845
22$796,722$252,975$0$543,747
23$836,558$267,714$0$568,844
24$878,386$283,191$0$595,195
25$922,305$299,441$0$622,865
26$968,421$316,503$0$651,917
27$1,016,842$334,419$0$682,422
28$1,067,684$353,231$0$714,453
29$1,121,068$372,983$0$748,085
30$1,177,121$393,723$0$783,399
Total$19,000,000$5,835,313$0$13,164,683

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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.