USA Mega

Washington, D.C. Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 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 $25,000,000 for a ticket purchased in Washington, D.C., 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:

Washington, D.C.

Drawing Date:Fri, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$40,451$233,760
2$395,100$108,660$42,473$243,967
3$414,855$115,574$44,597$254,684
4$435,598$122,834$46,827$265,937
5$457,378$130,457$49,168$277,753
6$480,247$138,461$51,627$290,159
7$504,259$146,865$54,208$303,186
8$529,472$155,690$56,918$316,864
9$555,946$164,956$59,764$331,226
10$583,743$174,685$62,752$346,306
11$612,930$184,972$65,890$362,068
12$643,577$196,311$69,184$378,081
13$675,755$208,217$72,644$394,894
14$709,543$220,719$76,276$412,549
15$745,020$233,845$80,090$431,085
16$782,271$247,628$84,094$450,549
17$821,385$262,100$88,299$470,986
18$862,454$277,296$92,714$492,445
19$905,577$293,251$97,350$514,976
20$950,856$310,004$102,217$538,634
21$998,398$327,595$107,328$563,475
22$1,048,318$346,066$112,694$589,559
23$1,100,734$365,459$118,329$616,946
24$1,155,771$385,823$124,245$645,703
25$1,213,560$407,205$130,458$675,897
26$1,274,238$429,656$136,981$707,601
27$1,337,949$453,229$143,830$740,891
28$1,404,847$477,981$151,021$775,845
29$1,475,089$503,971$158,572$812,546
30$1,548,844$531,260$166,501$851,083
Total$25,000,000$8,022,845$2,687,502$14,289,655

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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.