USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 1998

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The tax information provided here is based on 2025 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 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, Feb 13, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,310$9,031$167,431
2$237,060$52,922$9,482$174,655
3$248,913$56,715$9,957$182,241
4$261,359$61,023$10,454$189,882
5$274,427$65,597$10,977$197,853
6$288,148$70,399$11,526$206,223
7$302,555$75,442$12,102$215,012
8$317,683$80,736$12,707$224,240
9$333,567$86,296$13,343$233,929
10$350,246$92,133$14,010$244,103
11$367,758$98,263$14,710$254,785
12$386,146$104,698$15,446$266,002
13$405,453$111,456$16,218$277,779
14$425,726$118,551$17,029$290,146
15$447,012$126,002$17,880$303,130
16$469,363$133,824$18,775$316,764
17$492,831$142,038$19,713$331,080
18$517,472$150,663$20,699$346,111
19$543,346$159,718$21,734$361,894
20$570,513$169,227$22,821$378,466
21$599,039$179,211$23,962$395,867
22$628,991$189,747$25,160$414,084
23$660,441$201,383$26,418$432,640
24$693,463$213,601$27,739$452,123
25$728,136$226,430$29,125$472,580
26$764,543$239,901$30,582$494,060
27$802,770$254,045$32,111$516,614
28$842,908$268,896$33,716$540,296
29$885,054$284,490$35,402$565,161
30$929,306$300,864$37,172$591,270
Total$15,000,000$4,363,581$600,001$10,036,421

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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.