USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Dec 22, 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 $11,000,000 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, Dec 22, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$9,090$123,698
2$173,844$34,765$9,544$129,535
3$182,536$36,851$10,021$135,664
4$191,663$39,042$10,522$142,099
5$201,246$42,085$11,048$148,113
6$211,309$45,305$11,601$154,402
7$221,874$48,686$12,181$161,007
8$232,968$52,236$12,790$167,942
9$244,616$55,990$13,429$175,196
10$256,847$60,271$14,101$182,475
11$269,689$64,766$14,806$190,117
12$283,174$69,486$15,546$198,142
13$297,332$74,441$16,324$206,568
14$312,199$79,644$17,140$215,415
15$327,809$85,108$17,997$224,704
16$344,199$90,845$18,897$234,458
17$361,409$96,868$19,841$244,700
18$379,480$103,193$20,833$255,454
19$398,454$109,834$21,875$266,745
20$418,376$116,807$22,969$278,601
21$439,295$124,128$24,117$291,050
22$461,260$131,816$25,323$304,121
23$484,323$139,888$26,589$317,846
24$508,539$148,363$27,919$332,257
25$533,966$157,263$29,315$347,389
26$560,665$166,607$30,780$363,277
27$588,698$176,419$32,320$379,959
28$618,133$186,897$33,935$397,300
29$649,039$198,332$35,632$415,075
30$681,491$210,340$37,414$433,738
Total$11,000,000$2,979,054$603,899$7,417,047

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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.