USA Mega

Kansas Mega Millions Jackpot Annuity Payout Schedule for Aug 11, 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 Kansas, 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:

Kansas

Drawing Date:Tue, Aug 11, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$12,869$162,969
2$237,060$53,546$13,512$170,002
3$248,913$57,494$14,188$177,231
4$261,359$61,850$14,897$184,611
5$274,427$66,424$15,642$192,360
6$288,148$71,227$16,424$200,497
7$302,555$76,269$17,246$209,041
8$317,683$81,564$18,108$218,011
9$333,567$87,123$19,013$227,431
10$350,246$92,961$19,964$237,321
11$367,758$99,090$20,962$247,706
12$386,146$105,526$22,010$258,610
13$405,453$112,283$23,111$270,059
14$425,726$119,379$24,266$282,081
15$447,012$126,829$25,480$294,703
16$469,363$134,652$26,754$307,957
17$492,831$142,866$28,091$321,874
18$517,472$151,490$29,496$336,486
19$543,346$160,546$30,971$351,829
20$570,513$170,054$32,519$367,940
21$599,039$180,038$34,145$384,855
22$628,991$190,914$35,852$402,224
23$660,441$202,551$37,645$420,245
24$693,463$214,769$39,527$439,166
25$728,136$227,598$41,504$459,034
26$764,543$241,068$43,579$479,895
27$802,770$255,213$45,758$501,799
28$842,908$270,064$48,046$524,799
29$885,054$285,658$50,448$548,948
30$929,306$302,031$52,970$574,305
Total$15,000,000$4,391,010$854,997$9,753,989

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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.