USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 1998

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The tax information provided here is based on 2025 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 $19,000,000 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, Aug 18, 1998
Jackpot:$19,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,977$69,639$15,700$200,638
2$300,276$74,644$16,485$209,147
3$315,290$79,899$17,309$218,082
4$331,054$85,416$18,175$227,463
5$347,607$91,210$19,084$237,314
6$364,988$97,293$20,038$247,657
7$383,237$103,680$21,040$258,517
8$402,399$110,387$22,092$269,920
9$422,519$117,429$23,196$281,894
10$443,645$124,823$24,356$294,466
11$465,827$132,587$25,574$307,666
12$489,118$140,739$26,853$321,527
13$513,574$149,298$28,195$336,081
14$539,253$158,286$29,605$351,362
15$566,215$167,723$31,085$367,408
16$594,526$177,631$32,639$384,255
17$624,253$188,036$34,271$401,945
18$655,465$199,542$35,985$419,938
19$688,238$211,668$37,784$438,786
20$722,650$224,401$39,674$458,576
21$758,783$237,770$41,657$479,356
22$796,722$251,807$43,740$501,175
23$836,558$266,547$45,927$524,084
24$878,386$282,023$48,223$548,140
25$922,305$298,273$50,635$573,398
26$968,421$315,336$53,166$599,918
27$1,016,842$333,252$55,825$627,765
28$1,067,684$352,063$58,616$657,005
29$1,121,068$371,815$61,547$687,706
30$1,177,121$392,555$64,624$719,942
Total$19,000,000$5,805,772$1,043,100$12,151,131

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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.