USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $11,000,000 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, Jul 21, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$11,573$121,214
2$173,844$34,765$12,152$126,927
3$182,536$36,851$12,759$132,926
4$191,663$39,042$13,397$139,224
5$201,246$42,085$14,067$145,094
6$211,309$45,305$14,770$151,233
7$221,874$48,686$15,509$157,679
8$232,968$52,236$16,284$164,447
9$244,616$55,990$17,099$171,527
10$256,847$60,271$17,954$178,622
11$269,689$64,766$18,851$186,072
12$283,174$69,486$19,794$193,894
13$297,332$74,441$20,784$202,108
14$312,199$79,644$21,823$210,732
15$327,809$85,108$22,914$219,787
16$344,199$90,845$24,060$229,295
17$361,409$96,868$25,263$239,279
18$379,480$103,193$26,526$249,761
19$398,454$109,834$27,852$260,768
20$418,376$116,807$29,245$272,325
21$439,295$124,128$30,707$284,460
22$461,260$131,816$32,242$297,202
23$484,323$139,888$33,854$310,581
24$508,539$148,363$35,547$324,629
25$533,966$157,263$37,324$339,379
26$560,665$166,607$39,190$354,867
27$588,698$176,419$41,150$371,129
28$618,133$186,897$43,207$388,028
29$649,039$198,332$45,368$405,339
30$681,491$210,340$47,636$423,515
Total$11,000,000$2,979,054$768,901$7,252,043

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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.