USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 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 $17,000,000 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, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$14,048$181,896
2$268,668$64,409$14,750$189,510
3$282,102$69,110$15,487$197,504
4$296,207$74,047$16,262$205,898
5$311,017$79,231$17,075$214,711
6$326,568$84,673$17,929$223,966
7$342,896$90,388$18,825$233,683
8$360,041$96,389$19,766$243,886
9$378,043$102,690$20,755$254,599
10$396,945$109,306$21,792$265,847
11$416,792$116,252$22,882$277,658
12$437,632$123,546$24,026$290,060
13$459,514$131,205$25,227$303,082
14$482,489$139,246$26,489$316,755
15$506,614$147,690$27,813$331,111
16$531,945$156,555$29,204$346,185
17$558,542$165,864$30,664$362,013
18$586,469$175,639$32,197$378,633
19$615,792$186,031$33,807$395,954
20$646,582$197,423$35,497$413,661
21$678,911$209,385$37,272$432,254
22$712,856$221,945$39,136$451,776
23$748,499$235,132$41,093$472,274
24$785,924$248,980$43,147$493,797
25$825,220$263,519$45,305$516,397
26$866,482$278,786$47,570$540,126
27$909,806$294,816$49,948$565,041
28$955,296$311,647$52,446$591,203
29$1,003,061$329,320$55,068$618,672
30$1,053,214$347,877$57,821$647,515
Total$17,000,000$5,111,032$933,301$10,955,667

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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.