USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Feb 17, 1998

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 $17,000,000 for a ticket purchased in Indiana, 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:

Indiana

Drawing Date:Tue, Feb 17, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$7,804$188,139
2$268,668$64,409$8,194$196,065
3$282,102$69,110$8,604$204,387
4$296,207$74,047$9,034$213,125
5$311,017$79,231$9,486$222,300
6$326,568$84,673$9,960$231,934
7$342,896$90,388$10,458$242,049
8$360,041$96,389$10,981$252,671
9$378,043$102,690$11,530$263,823
10$396,945$109,306$12,107$275,533
11$416,792$116,252$12,712$287,828
12$437,632$123,546$13,348$300,738
13$459,514$131,205$14,015$314,294
14$482,489$139,246$14,716$328,527
15$506,614$147,690$15,452$343,473
16$531,945$156,555$16,224$359,165
17$558,542$165,864$17,036$375,642
18$586,469$175,639$17,887$392,943
19$615,792$186,031$18,782$410,980
20$646,582$197,423$19,721$429,438
21$678,911$209,385$20,707$448,819
22$712,856$221,945$21,742$469,170
23$748,499$235,132$22,829$490,538
24$785,924$248,980$23,971$512,974
25$825,220$263,519$25,169$536,532
26$866,482$278,786$26,428$561,268
27$909,806$294,816$27,749$587,241
28$955,296$311,647$29,137$614,512
29$1,003,061$329,320$30,593$643,147
30$1,053,214$347,877$32,123$673,214
Total$17,000,000$5,111,032$518,499$11,370,469

◄ 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.