USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 1999

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The tax information provided here is based on 2025 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 $27,000,000 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, Jan 15, 1999
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$111,783$28,407$266,199
2$426,708$118,895$29,827$277,986
3$448,044$126,363$31,318$290,363
4$470,446$134,203$32,884$303,358
5$493,968$142,436$34,528$317,004
6$518,666$151,081$36,255$331,331
7$544,600$160,157$38,068$346,375
8$571,830$169,688$39,971$362,171
9$600,421$179,695$41,969$378,757
10$630,442$190,284$44,068$396,091
11$661,964$201,947$46,271$413,746
12$695,063$214,193$48,585$432,284
13$729,816$227,052$51,014$451,750
14$766,307$240,554$53,565$472,188
15$804,622$254,730$56,243$493,648
16$844,853$269,616$59,055$516,182
17$887,096$285,246$62,008$539,842
18$931,450$301,657$65,108$564,685
19$978,023$318,889$68,364$590,770
20$1,026,924$336,982$71,782$618,160
21$1,078,270$355,980$75,371$646,919
22$1,132,184$375,928$79,140$677,116
23$1,188,793$396,874$83,097$708,823
24$1,248,233$418,866$87,251$742,115
25$1,310,644$441,959$91,614$777,072
26$1,376,177$466,206$96,195$813,776
27$1,444,985$491,665$101,004$852,316
28$1,517,235$518,397$106,055$892,783
29$1,593,096$546,466$111,357$935,273
30$1,672,751$575,938$116,925$979,888
Total$27,000,000$8,723,730$1,887,299$16,388,971

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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.