USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jan 9, 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 $14,000,000 for a ticket purchased in Connecticut, 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:

Connecticut

Drawing Date:Fri, Jan 9, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$14,729$150,874
2$221,256$48,488$15,466$157,302
3$232,319$52,029$16,239$164,051
4$243,935$55,752$17,051$171,132
5$256,132$60,021$17,904$178,207
6$268,938$64,503$18,799$185,636
7$282,385$69,210$19,739$193,437
8$296,504$74,151$20,726$201,627
9$311,330$79,340$21,762$210,228
10$326,896$84,788$22,850$219,258
11$343,241$90,509$23,993$228,739
12$360,403$96,516$25,192$238,695
13$378,423$102,823$26,452$249,148
14$397,344$109,445$27,774$260,125
15$417,211$116,399$29,163$271,650
16$438,072$123,700$30,621$283,751
17$459,976$131,366$32,152$296,457
18$482,974$139,416$33,760$309,799
19$507,123$147,868$35,448$323,807
20$532,479$156,742$37,220$338,516
21$559,103$166,061$39,081$353,961
22$587,058$175,845$41,035$370,178
23$616,411$186,260$43,087$387,064
24$647,232$197,664$45,242$404,327
25$679,593$209,637$47,504$422,452
26$713,573$222,210$49,879$441,485
27$749,252$235,411$52,373$461,468
28$786,714$249,272$54,991$482,451
29$826,050$263,826$57,741$504,483
30$867,352$279,108$60,628$527,616
Total$14,000,000$4,033,477$978,601$8,987,924

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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.