USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 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 $15,000,000 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, Feb 13, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$12,395$163,443
2$237,060$53,546$13,015$170,500
3$248,913$57,494$13,665$177,753
4$261,359$61,850$14,349$185,160
5$274,427$66,424$15,066$192,937
6$288,148$71,227$15,819$201,102
7$302,555$76,269$16,610$209,676
8$317,683$81,564$17,441$218,679
9$333,567$87,123$18,313$228,131
10$350,246$92,961$19,228$238,056
11$367,758$99,090$20,190$248,478
12$386,146$105,526$21,199$259,421
13$405,453$112,283$22,259$270,910
14$425,726$119,379$23,372$282,975
15$447,012$126,829$24,541$295,642
16$469,363$134,652$25,768$308,943
17$492,831$142,866$27,056$322,909
18$517,472$151,490$28,409$337,573
19$543,346$160,546$29,830$352,971
20$570,513$170,054$31,321$369,138
21$599,039$180,038$32,887$386,113
22$628,991$190,914$34,532$403,545
23$660,441$202,551$36,258$421,632
24$693,463$214,769$38,071$440,623
25$728,136$227,598$39,975$460,563
26$764,543$241,068$41,973$481,501
27$802,770$255,213$44,072$503,485
28$842,908$270,064$46,276$526,569
29$885,054$285,658$48,589$550,807
30$929,306$302,031$51,019$576,256
Total$15,000,000$4,391,010$823,498$9,785,491

◄ 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.