USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Sep 29, 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 $24,000,000 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, Sep 29, 1998
Jackpot:$24,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,234$96,807$25,250$239,177
2$379,296$103,128$26,513$249,655
3$398,261$109,766$27,838$260,656
4$418,174$116,736$29,230$272,208
5$439,083$124,054$30,692$284,337
6$461,037$131,738$32,226$297,073
7$484,089$139,806$33,838$310,445
8$508,293$148,277$35,530$324,486
9$533,708$157,172$37,306$339,229
10$560,393$166,512$39,171$354,709
11$588,413$176,319$41,130$370,964
12$617,833$186,786$43,187$387,861
13$648,725$198,216$45,346$405,163
14$681,161$210,217$47,613$423,331
15$715,219$222,819$49,994$442,407
16$750,980$236,051$52,494$462,436
17$788,529$249,944$55,118$483,468
18$827,956$264,531$57,874$505,550
19$869,354$279,849$60,768$528,737
20$912,821$295,932$63,806$553,084
21$958,463$312,819$66,997$578,647
22$1,006,386$330,550$70,346$605,489
23$1,056,705$349,169$73,864$633,673
24$1,109,540$368,718$77,557$663,266
25$1,165,017$389,244$81,435$694,338
26$1,223,268$410,797$85,506$726,965
27$1,284,431$433,427$89,782$761,222
28$1,348,653$457,189$94,271$797,193
29$1,416,086$482,139$98,984$834,962
30$1,486,890$508,337$103,934$874,619
Total$24,000,000$7,657,049$1,677,600$14,665,350

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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.