USA Mega

Illinois Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 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 $15,000,000 for a ticket purchased in Illinois, 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:

Illinois

Drawing Date:Fri, Feb 13, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,310$11,176$165,286
2$237,060$52,922$11,734$172,403
3$248,913$56,715$12,321$179,877
4$261,359$61,023$12,937$187,399
5$274,427$65,597$13,584$195,246
6$288,148$70,399$14,263$203,486
7$302,555$75,442$14,976$212,137
8$317,683$80,736$15,725$221,222
9$333,567$86,296$16,512$230,760
10$350,246$92,133$17,337$240,775
11$367,758$98,263$18,204$251,291
12$386,146$104,698$19,114$262,333
13$405,453$111,456$20,070$273,927
14$425,726$118,551$21,073$286,101
15$447,012$126,002$22,127$298,884
16$469,363$133,824$23,233$312,305
17$492,831$142,038$24,395$326,398
18$517,472$150,663$25,615$341,195
19$543,346$159,718$26,896$356,732
20$570,513$169,227$28,240$373,046
21$599,039$179,211$29,652$390,176
22$628,991$189,747$31,135$408,109
23$660,441$201,383$32,692$426,366
24$693,463$213,601$34,326$445,535
25$728,136$226,430$36,043$465,663
26$764,543$239,901$37,845$486,797
27$802,770$254,045$39,737$508,988
28$842,908$268,896$41,724$532,288
29$885,054$284,490$43,810$556,753
30$929,306$300,864$46,001$582,442
Total$15,000,000$4,363,581$742,497$9,893,920

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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.