USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Aug 7, 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 $13,000,000 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, Aug 7, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$10,742$144,626
2$205,452$43,431$11,279$150,742
3$215,725$46,718$11,843$157,163
4$226,511$50,170$12,435$163,905
5$237,836$53,794$13,057$170,985
6$249,728$57,780$13,710$178,239
7$262,215$62,150$14,396$185,669
8$275,325$66,739$15,115$193,471
9$289,092$71,557$15,871$201,664
10$303,546$76,616$16,665$210,266
11$318,724$81,928$17,498$219,298
12$334,660$87,506$18,373$228,781
13$351,393$93,362$19,291$238,739
14$368,962$99,512$20,256$249,195
15$387,411$105,968$21,269$260,173
16$406,781$112,748$22,332$271,701
17$427,120$119,867$23,449$283,804
18$448,476$127,341$24,621$296,513
19$470,900$135,190$25,852$309,858
20$494,445$143,430$27,145$323,869
21$519,167$152,083$28,502$338,582
22$545,126$161,169$29,927$354,029
23$572,382$170,708$31,424$370,250
24$601,001$180,725$32,995$387,281
25$631,051$191,677$34,645$404,730
26$662,604$203,351$36,377$422,876
27$695,734$215,609$38,196$441,929
28$730,520$228,480$40,106$461,935
29$767,046$241,995$42,111$482,941
30$805,399$256,185$44,216$504,997
Total$13,000,000$3,678,089$713,698$8,608,211

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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.