USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 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 $17,000,000 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, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$17,886$178,058
2$268,668$64,409$18,780$185,480
3$282,102$69,110$19,719$193,272
4$296,207$74,047$20,705$201,455
5$311,017$79,231$21,740$210,046
6$326,568$84,673$22,827$219,067
7$342,896$90,388$23,968$228,539
8$360,041$96,389$25,167$238,485
9$378,043$102,690$26,425$248,928
10$396,945$109,306$27,746$259,893
11$416,792$116,252$29,134$271,407
12$437,632$123,546$30,590$283,496
13$459,514$131,205$32,120$296,189
14$482,489$139,246$33,726$309,517
15$506,614$147,690$35,412$323,512
16$531,945$156,555$37,183$338,206
17$558,542$165,864$39,042$353,635
18$586,469$175,639$40,994$369,836
19$615,792$186,031$43,044$386,717
20$646,582$197,423$45,196$403,963
21$678,911$209,385$47,456$422,070
22$712,856$221,945$49,829$441,083
23$748,499$235,132$52,320$461,047
24$785,924$248,980$54,936$482,008
25$825,220$263,519$57,683$504,018
26$866,482$278,786$60,567$527,129
27$909,806$294,816$63,595$551,394
28$955,296$311,647$66,775$576,873
29$1,003,061$329,320$70,114$603,627
30$1,053,214$347,877$73,620$631,717
Total$17,000,000$5,111,032$1,188,299$10,700,667

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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.