USA Mega

Illinois Mega Millions Jackpot Annuity Payout Schedule for Jan 22, 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 $35,000,000 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 22, 1999
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$526,800$154,755$26,077$345,969
2$553,140$163,974$27,380$361,786
3$580,797$173,654$28,749$378,394
4$609,837$183,827$30,187$395,823
5$640,329$195,109$31,696$413,523
6$672,345$206,956$33,281$432,109
7$705,963$219,394$34,945$451,624
8$741,261$232,454$36,692$472,114
9$778,324$246,168$38,527$493,629
10$817,240$260,567$40,453$516,220
11$858,102$275,686$42,476$539,941
12$901,007$291,560$44,600$564,847
13$946,058$308,229$46,830$590,999
14$993,360$325,731$49,171$618,458
15$1,043,028$344,108$51,630$647,290
16$1,095,180$363,404$54,211$677,564
17$1,149,939$383,665$56,922$709,352
18$1,207,436$404,939$59,768$742,729
19$1,267,808$427,277$62,756$777,775
20$1,331,198$450,731$65,894$814,573
21$1,397,758$475,358$69,189$853,211
22$1,467,646$501,217$72,648$893,781
23$1,541,028$528,368$76,281$936,379
24$1,618,079$556,877$80,095$981,107
25$1,698,983$586,812$84,100$1,028,072
26$1,783,933$618,243$88,305$1,077,385
27$1,873,129$651,246$92,720$1,129,164
28$1,966,786$685,898$97,356$1,183,531
29$2,065,125$722,284$102,224$1,240,617
30$2,168,381$760,489$107,335$1,300,558
Total$35,000,000$11,698,980$1,732,498$21,568,524

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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.