USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Jan 5, 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 $18,000,000 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 5, 1999
Jackpot:$18,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$270,926$65,199$14,874$190,853
2$284,472$69,940$15,618$198,915
3$298,696$74,918$16,398$207,379
4$313,631$80,145$17,218$216,267
5$329,312$85,634$18,079$225,599
6$345,778$91,397$18,983$235,398
7$363,067$97,448$19,932$245,686
8$381,220$103,802$20,929$256,489
9$400,281$110,473$21,975$267,832
10$420,295$117,478$23,074$279,743
11$441,310$124,833$24,228$292,249
12$463,375$132,556$25,439$305,380
13$486,544$140,665$26,711$319,168
14$510,871$149,180$28,047$333,645
15$536,415$158,120$29,449$348,846
16$563,235$167,507$30,922$364,807
17$591,397$177,364$32,468$381,566
18$620,967$187,946$34,091$398,930
19$652,015$199,433$35,796$416,786
20$684,616$211,496$37,585$435,535
21$718,847$224,161$39,465$455,221
22$754,789$237,460$41,438$475,892
23$792,529$251,423$43,510$497,596
24$832,155$266,085$45,685$520,385
25$873,763$281,480$47,970$544,313
26$917,451$297,645$50,368$569,438
27$963,324$314,617$52,886$595,820
28$1,011,490$332,439$55,531$623,520
29$1,062,064$351,152$58,307$652,605
30$1,115,167$370,800$61,223$683,145
Total$18,000,000$5,472,796$988,199$11,539,008

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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.