USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Oct 13, 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 $35,000,000 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:Tue, Oct 13, 1998
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$526,800$154,755$36,823$335,222
2$553,140$163,974$38,665$350,502
3$580,797$173,654$40,598$366,546
4$609,837$183,827$42,628$383,382
5$640,329$195,109$44,759$400,460
6$672,345$206,956$46,997$418,393
7$705,963$219,394$49,347$437,222
8$741,261$232,454$51,814$456,992
9$778,324$246,168$54,405$477,751
10$817,240$260,567$57,125$499,548
11$858,102$275,686$59,981$522,435
12$901,007$291,560$62,980$546,466
13$946,058$308,229$66,129$571,699
14$993,360$325,731$69,436$598,193
15$1,043,028$344,108$72,908$626,012
16$1,095,180$363,404$76,553$655,222
17$1,149,939$383,665$80,381$685,893
18$1,207,436$404,939$84,400$718,097
19$1,267,808$427,277$88,620$751,911
20$1,331,198$450,731$93,051$787,416
21$1,397,758$475,358$97,703$824,696
22$1,467,646$501,217$102,588$863,841
23$1,541,028$528,368$107,718$904,942
24$1,618,079$556,877$113,104$948,099
25$1,698,983$586,812$118,759$993,413
26$1,783,933$618,243$124,697$1,040,993
27$1,873,129$651,246$130,932$1,090,952
28$1,966,786$685,898$137,478$1,143,409
29$2,065,125$722,284$144,352$1,198,489
30$2,168,381$760,489$151,570$1,256,323
Total$35,000,000$11,698,980$2,446,501$20,854,519

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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.