USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Mar 6, 1998

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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 $15,000,000 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:Fri, Mar 6, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$6,886$168,952
2$237,060$53,546$7,230$176,284
3$248,913$57,494$7,592$183,827
4$261,359$61,850$7,971$191,537
5$274,427$66,424$8,370$199,633
6$288,148$71,227$8,789$208,133
7$302,555$76,269$9,228$217,058
8$317,683$81,564$9,689$226,430
9$333,567$87,123$10,174$236,270
10$350,246$92,961$10,682$246,602
11$367,758$99,090$11,217$257,451
12$386,146$105,526$11,777$268,843
13$405,453$112,283$12,366$280,804
14$425,726$119,379$12,985$293,362
15$447,012$126,829$13,634$306,549
16$469,363$134,652$14,316$320,396
17$492,831$142,866$15,031$334,934
18$517,472$151,490$15,783$350,199
19$543,346$160,546$16,572$366,228
20$570,513$170,054$17,401$383,058
21$599,039$180,038$18,271$400,730
22$628,991$190,914$19,184$418,892
23$660,441$202,551$20,143$437,746
24$693,463$214,769$21,151$457,543
25$728,136$227,598$22,208$478,330
26$764,543$241,068$23,319$500,155
27$802,770$255,213$24,484$523,073
28$842,908$270,064$25,709$547,136
29$885,054$285,658$26,994$572,402
30$929,306$302,031$28,344$598,931
Total$15,000,000$4,391,010$457,500$10,151,488

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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.