USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Feb 12, 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 $10,000,000 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, Feb 12, 1999
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$8,263$113,085
2$158,040$30,972$8,676$118,392
3$165,942$32,869$9,110$123,963
4$174,239$34,860$9,566$129,814
5$182,951$36,951$10,044$135,956
6$192,099$39,158$10,546$142,394
7$201,704$42,232$11,074$148,398
8$211,789$45,459$11,627$154,703
9$222,378$48,848$12,209$161,322
10$233,497$52,406$12,819$168,273
11$245,172$56,185$13,460$175,527
12$257,431$60,475$14,133$182,822
13$270,302$64,981$14,840$190,482
14$283,817$69,711$15,582$198,525
15$298,008$74,678$16,361$206,970
16$312,909$79,893$17,179$215,837
17$328,554$85,369$18,038$225,148
18$344,982$91,118$18,939$234,924
19$362,231$97,156$19,886$245,189
20$380,342$103,495$20,881$255,967
21$399,359$110,151$21,925$267,284
22$419,327$117,139$23,021$279,167
23$440,294$124,478$24,172$291,644
24$462,308$132,183$25,381$304,745
25$485,424$140,273$26,650$318,501
26$509,695$148,768$27,982$332,945
27$535,180$157,688$29,381$348,111
28$561,939$167,053$30,850$364,035
29$590,036$176,887$32,393$380,755
30$619,537$187,417$34,013$398,108
Total$10,000,000$2,638,019$549,001$6,812,986

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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.