USA Mega

Illinois Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 1999

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $27,000,000 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, Jan 15, 1999
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$20,116$273,662
2$426,708$119,723$21,122$285,864
3$448,044$127,190$22,178$298,675
4$470,446$135,031$23,287$312,128
5$493,968$143,264$24,451$326,253
6$518,666$151,908$25,674$341,084
7$544,600$160,985$26,958$356,657
8$571,830$170,515$28,306$373,009
9$600,421$180,522$29,721$390,178
10$630,442$191,451$31,207$407,784
11$661,964$203,115$32,767$426,083
12$695,063$215,361$34,406$445,296
13$729,816$228,220$36,126$465,470
14$766,307$241,721$37,932$486,653
15$804,622$255,898$39,829$508,895
16$844,853$270,783$41,820$532,249
17$887,096$286,413$43,911$556,771
18$931,450$302,824$46,107$582,519
19$978,023$320,056$48,412$609,555
20$1,026,924$338,150$50,833$637,942
21$1,078,270$357,148$53,374$667,748
22$1,132,184$377,096$56,043$699,045
23$1,188,793$398,041$58,845$731,907
24$1,248,233$420,034$61,788$766,411
25$1,310,644$443,126$64,877$802,641
26$1,376,177$467,373$68,121$840,683
27$1,444,985$492,832$71,527$880,626
28$1,517,235$519,565$75,103$922,567
29$1,593,096$547,633$78,858$966,605
30$1,672,751$577,106$82,801$1,012,844
Total$27,000,000$8,755,695$1,336,500$16,907,804

◄ Back to Jackpot Analysis

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.