USA Mega

California Mega Millions Jackpot Annuity Payout Schedule for Jan 29, 1999

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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 $50,000,000 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, Jan 29, 1999
Jackpot:$50,000,000
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$752,572$236,639$0$515,932
2$790,200$250,562$0$539,638
3$829,710$265,181$0$564,530
4$871,196$280,530$0$590,666
5$914,756$296,647$0$618,108
6$960,493$313,570$0$646,923
7$1,008,518$331,339$0$677,179
8$1,058,944$349,997$0$708,947
9$1,111,891$369,588$0$742,304
10$1,167,486$390,157$0$777,328
11$1,225,860$411,756$0$814,104
12$1,287,153$434,434$0$852,719
13$1,351,511$458,247$0$893,264
14$1,419,086$483,250$0$935,837
15$1,490,041$509,503$0$980,538
16$1,564,543$537,069$0$1,027,474
17$1,642,770$566,013$0$1,076,757
18$1,724,908$596,404$0$1,128,504
19$1,811,154$628,315$0$1,182,839
20$1,901,711$661,821$0$1,239,890
21$1,996,797$697,003$0$1,299,794
22$2,096,637$733,943$0$1,362,693
23$2,201,469$772,731$0$1,428,737
24$2,311,542$813,458$0$1,498,084
25$2,427,119$856,222$0$1,570,897
26$2,548,475$901,124$0$1,647,352
27$2,675,899$948,270$0$1,727,629
28$2,809,694$997,774$0$1,811,919
29$2,950,178$1,049,754$0$1,900,425
30$3,097,687$1,104,332$0$1,993,355
Total$50,000,000$17,245,633$0$32,754,366

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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.