USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 1999

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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 $40,000,000 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, Jan 26, 1999
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$181,095$33,053$387,910
2$632,160$192,087$34,706$405,368
3$663,768$203,782$36,441$423,545
4$696,957$216,062$38,263$442,632
5$731,805$228,955$40,176$462,673
6$768,395$242,494$42,185$483,716
7$806,815$256,709$44,294$505,811
8$847,155$271,635$46,509$529,011
9$889,513$287,308$48,834$553,371
10$933,989$303,764$51,276$578,949
11$980,688$321,042$53,840$605,806
12$1,029,722$339,185$56,532$634,006
13$1,081,209$358,235$59,358$663,615
14$1,135,269$378,237$62,326$694,705
15$1,192,032$399,240$65,443$727,350
16$1,251,634$421,292$68,715$761,627
17$1,314,216$444,448$72,150$797,618
18$1,379,927$468,761$75,758$835,408
19$1,448,923$494,289$79,546$875,088
20$1,521,369$521,094$83,523$916,752
21$1,597,438$549,240$87,699$960,499
22$1,677,309$578,792$92,084$1,006,433
23$1,761,175$609,822$96,689$1,054,664
24$1,849,234$642,404$101,523$1,105,306
25$1,941,695$676,615$106,599$1,158,481
26$2,038,780$712,536$111,929$1,214,315
27$2,140,719$750,254$117,525$1,272,940
28$2,247,755$789,857$123,402$1,334,496
29$2,360,143$831,441$129,572$1,399,130
30$2,478,150$875,103$136,050$1,466,996
Total$40,000,000$13,545,778$2,196,000$24,258,221

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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.