USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jan 9, 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 $14,000,000 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, Jan 9, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$8,429$157,174
2$221,256$48,488$8,850$163,917
3$232,319$52,029$9,293$170,998
4$243,935$55,752$9,757$178,426
5$256,132$60,021$10,245$185,866
6$268,938$64,503$10,758$193,678
7$282,385$69,210$11,295$201,880
8$296,504$74,151$11,860$210,493
9$311,330$79,340$12,453$219,536
10$326,896$84,788$13,076$229,032
11$343,241$90,509$13,730$239,002
12$360,403$96,516$14,416$249,471
13$378,423$102,823$15,137$260,463
14$397,344$109,445$15,894$272,005
15$417,211$116,399$16,688$284,124
16$438,072$123,700$17,523$296,849
17$459,976$131,366$18,399$310,210
18$482,974$139,416$19,319$324,240
19$507,123$147,868$20,285$338,970
20$532,479$156,742$21,299$354,438
21$559,103$166,061$22,364$370,678
22$587,058$175,845$23,482$387,731
23$616,411$186,260$24,656$405,495
24$647,232$197,664$25,889$423,679
25$679,593$209,637$27,184$442,772
26$713,573$222,210$28,543$462,820
27$749,252$235,411$29,970$483,871
28$786,714$249,272$31,469$505,974
29$826,050$263,826$33,042$529,182
30$867,352$279,108$34,694$553,550
Total$14,000,000$4,033,477$559,999$9,406,524

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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.