USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Nov 24, 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 $27,000,000 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:Tue, Nov 24, 1998
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$22,311$271,467
2$426,708$119,723$23,426$283,559
3$448,044$127,190$24,598$296,256
4$470,446$135,031$25,827$309,588
5$493,968$143,264$27,119$323,586
6$518,666$151,908$28,475$338,284
7$544,600$160,985$29,899$353,717
8$571,830$170,515$31,393$369,921
9$600,421$180,522$32,963$386,936
10$630,442$191,451$34,611$404,380
11$661,964$203,115$36,342$422,508
12$695,063$215,361$38,159$441,543
13$729,816$228,220$40,067$461,529
14$766,307$241,721$42,070$482,515
15$804,622$255,898$44,174$504,550
16$844,853$270,783$46,382$527,687
17$887,096$286,413$48,702$551,981
18$931,450$302,824$51,137$577,489
19$978,023$320,056$53,693$604,273
20$1,026,924$338,150$56,378$632,396
21$1,078,270$357,148$59,197$661,926
22$1,132,184$377,096$62,157$692,931
23$1,188,793$398,041$65,265$725,487
24$1,248,233$420,034$68,528$759,671
25$1,310,644$443,126$71,954$795,564
26$1,376,177$467,373$75,552$833,251
27$1,444,985$492,832$79,330$872,823
28$1,517,235$519,565$83,296$914,374
29$1,593,096$547,633$87,461$958,002
30$1,672,751$577,106$91,834$1,003,811
Total$27,000,000$8,755,695$1,482,300$16,762,005

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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.