USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 1999

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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 $40,000,000 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, Jan 26, 1999
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$181,095$42,084$378,879
2$632,160$192,087$44,188$395,885
3$663,768$203,782$46,397$413,589
4$696,957$216,062$48,717$432,178
5$731,805$228,955$51,153$451,696
6$768,395$242,494$53,711$472,190
7$806,815$256,709$56,396$493,709
8$847,155$271,635$59,216$516,304
9$889,513$287,308$62,177$540,028
10$933,989$303,764$65,286$564,939
11$980,688$321,042$68,550$591,096
12$1,029,722$339,185$71,978$618,560
13$1,081,209$358,235$75,576$647,397
14$1,135,269$378,237$79,355$677,676
15$1,192,032$399,240$83,323$709,470
16$1,251,634$421,292$87,489$742,853
17$1,314,216$444,448$91,864$777,905
18$1,379,927$468,761$96,457$814,709
19$1,448,923$494,289$101,280$853,354
20$1,521,369$521,094$106,344$893,931
21$1,597,438$549,240$111,661$936,537
22$1,677,309$578,792$117,244$981,273
23$1,761,175$609,822$123,106$1,028,246
24$1,849,234$642,404$129,261$1,077,568
25$1,941,695$676,615$135,725$1,129,356
26$2,038,780$712,536$142,511$1,183,733
27$2,140,719$750,254$149,636$1,240,829
28$2,247,755$789,857$157,118$1,300,780
29$2,360,143$831,441$164,974$1,363,728
30$2,478,150$875,103$173,223$1,429,824
Total$40,000,000$13,545,778$2,796,000$23,658,222

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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.