USA Mega

Illinois Mega Millions Jackpot Annuity Payout Schedule for Aug 7, 2001

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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 $37,000,000 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:Tue, Aug 7, 2001
Jackpot:$37,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$556,903$164,463$27,567$364,873
2$584,748$174,209$28,945$381,594
3$613,986$184,442$30,392$399,151
4$644,685$195,554$31,912$417,219
5$676,919$207,480$33,507$435,931
6$710,765$220,003$35,183$455,579
7$746,303$233,153$36,942$476,209
8$783,619$246,959$38,789$497,870
9$822,800$261,456$40,729$520,615
10$863,939$276,678$42,765$544,497
11$907,136$292,661$44,903$569,572
12$952,493$309,443$47,148$595,902
13$1,000,118$327,064$49,506$623,548
14$1,050,124$345,566$51,981$652,577
15$1,102,630$364,993$54,580$683,056
16$1,157,762$385,392$57,309$715,060
17$1,215,650$406,811$60,175$748,664
18$1,276,432$429,300$63,183$783,949
19$1,340,254$452,914$66,343$820,997
20$1,407,266$477,709$69,660$859,898
21$1,477,630$503,743$73,143$900,744
22$1,551,511$531,079$76,800$943,632
23$1,629,087$559,782$80,640$988,665
24$1,710,541$589,920$84,672$1,035,949
25$1,796,068$621,565$88,905$1,085,597
26$1,885,872$654,793$93,351$1,137,728
27$1,980,165$689,681$98,018$1,192,466
28$2,079,173$726,314$102,919$1,249,940
29$2,183,132$764,779$108,065$1,310,288
30$2,292,289$805,167$113,468$1,373,653
Total$37,000,000$12,403,073$1,831,500$22,765,423

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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.