USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Dec 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 $10,000,000 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, Dec 18, 1998
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$10,521$110,827
2$158,040$30,972$11,047$116,021
3$165,942$32,869$11,599$121,474
4$174,239$34,860$12,179$127,200
5$182,951$36,951$12,788$133,212
6$192,099$39,158$13,428$139,513
7$201,704$42,232$14,099$145,373
8$211,789$45,459$14,804$151,526
9$222,378$48,848$15,544$157,986
10$233,497$52,406$16,321$164,770
11$245,172$56,185$17,138$171,850
12$257,431$60,475$17,994$178,961
13$270,302$64,981$18,894$186,428
14$283,817$69,711$19,839$194,268
15$298,008$74,678$20,831$202,500
16$312,909$79,893$21,872$211,143
17$328,554$85,369$22,966$220,219
18$344,982$91,118$24,114$229,749
19$362,231$97,156$25,320$239,755
20$380,342$103,495$26,586$250,262
21$399,359$110,151$27,915$261,294
22$419,327$117,139$29,311$272,877
23$440,294$124,478$30,777$285,040
24$462,308$132,183$32,315$297,810
25$485,424$140,273$33,931$311,220
26$509,695$148,768$35,628$325,299
27$535,180$157,688$37,409$340,083
28$561,939$167,053$39,280$355,606
29$590,036$176,887$41,243$371,905
30$619,537$187,417$43,306$388,815
Total$10,000,000$2,638,019$698,999$6,662,986

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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.