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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Oct 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 $32,000,000 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, Oct 9, 1998
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$481,646$138,951$33,667$309,028
2$505,728$147,380$35,350$322,998
3$531,015$156,230$37,118$337,667
4$557,565$165,523$38,974$353,069
5$585,444$175,280$40,923$369,241
6$614,716$185,633$42,969$386,115
7$645,452$197,005$45,117$403,330
8$677,724$208,946$47,373$421,406
9$711,610$221,484$49,742$440,385
10$747,191$234,648$52,229$460,314
11$784,550$248,471$54,840$481,239
12$823,778$262,986$57,582$503,210
13$864,967$278,225$60,461$526,280
14$908,215$294,227$63,484$550,504
15$953,626$311,029$66,658$575,938
16$1,001,307$328,671$69,991$602,644
17$1,051,373$347,196$73,491$630,686
18$1,103,941$366,646$77,165$660,130
19$1,159,138$387,069$81,024$691,046
20$1,217,095$408,513$85,075$723,507
21$1,277,950$431,029$89,329$757,592
22$1,341,848$454,671$93,795$793,381
23$1,408,940$479,496$98,485$830,959
24$1,479,387$505,561$103,409$870,417
25$1,553,356$532,930$108,580$911,847
26$1,631,024$561,667$114,009$955,349
27$1,712,575$591,841$119,709$1,001,026
28$1,798,204$623,523$125,694$1,048,986
29$1,888,114$656,790$131,979$1,099,345
30$1,982,520$691,720$138,578$1,152,222
Total$32,000,000$10,593,341$2,236,800$19,169,861

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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.