USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 1998

Media: You may freely use any information on this page, but you must credit usamega.com.

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 Georgia, 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:

Georgia

Drawing Date:Fri, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$20,658$253,553
2$395,100$108,660$21,691$264,749
3$414,855$115,574$22,776$276,506
4$435,598$122,834$23,914$288,850
5$457,378$130,457$25,110$301,811
6$480,247$138,461$26,366$315,420
7$504,259$146,865$27,684$329,710
8$529,472$155,690$29,068$344,714
9$555,946$164,956$30,521$360,468
10$583,743$174,685$32,047$377,011
11$612,930$184,972$33,650$394,308
12$643,577$196,311$35,332$411,933
13$675,755$208,217$37,099$430,439
14$709,543$220,719$38,954$449,871
15$745,020$233,845$40,902$470,273
16$782,271$247,628$42,947$491,696
17$821,385$262,100$45,094$514,191
18$862,454$277,296$47,349$537,810
19$905,577$293,251$49,716$562,609
20$950,856$310,004$52,202$588,649
21$998,398$327,595$54,812$615,991
22$1,048,318$346,066$57,553$644,700
23$1,100,734$365,459$60,430$674,845
24$1,155,771$385,823$63,452$706,496
25$1,213,560$407,205$66,624$739,730
26$1,274,238$429,656$69,956$774,626
27$1,337,949$453,229$73,453$811,267
28$1,404,847$477,981$77,126$849,740
29$1,475,089$503,971$80,982$890,136
30$1,548,844$531,260$85,032$932,552
Total$25,000,000$8,022,845$1,372,500$15,604,654

◄ Back to Jackpot Analysis

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.