USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Dec 6, 1996

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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 $9,000,000 for a ticket purchased in Kentucky, 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:

Kentucky

Drawing Date:Fri, Dec 6, 1996
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$5,419$104,491
2$142,236$27,179$5,689$109,367
3$149,348$28,886$5,974$114,488
4$156,815$30,678$6,273$119,864
5$164,656$32,560$6,586$125,510
6$172,889$34,536$6,916$131,437
7$181,533$36,610$7,261$137,661
8$190,610$38,789$7,624$144,197
9$200,140$41,731$8,006$150,403
10$210,147$44,934$8,406$156,808
11$220,655$48,296$8,826$163,533
12$231,688$51,827$9,268$170,594
13$243,272$55,534$9,731$178,008
14$255,436$59,777$10,217$185,441
15$268,207$64,247$10,728$193,232
16$281,618$68,941$11,265$201,412
17$295,699$73,869$11,828$210,001
18$310,483$79,044$12,419$219,020
19$326,008$84,477$13,040$228,490
20$342,308$90,183$13,692$238,433
21$359,423$96,173$14,377$248,874
22$377,395$102,463$15,096$259,836
23$396,264$109,067$15,851$271,347
24$416,078$116,002$16,643$283,433
25$436,881$123,283$17,475$296,123
26$458,726$130,929$18,349$309,448
27$481,662$138,956$19,266$323,439
28$505,745$147,385$20,230$338,130
29$531,032$156,236$21,241$353,555
30$557,584$165,529$22,303$369,751
Total$9,000,000$2,303,675$359,999$6,336,326

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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.