USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 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 $17,000,000 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:Tue, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$10,235$185,709
2$268,668$64,409$10,747$193,513
3$282,102$69,110$11,284$201,707
4$296,207$74,047$11,848$210,311
5$311,017$79,231$12,441$219,346
6$326,568$84,673$13,063$228,832
7$342,896$90,388$13,716$238,792
8$360,041$96,389$14,402$249,250
9$378,043$102,690$15,122$260,231
10$396,945$109,306$15,878$271,762
11$416,792$116,252$16,672$283,869
12$437,632$123,546$17,505$296,581
13$459,514$131,205$18,381$309,929
14$482,489$139,246$19,300$323,944
15$506,614$147,690$20,265$338,660
16$531,945$156,555$21,278$354,111
17$558,542$165,864$22,342$370,336
18$586,469$175,639$23,459$387,371
19$615,792$186,031$24,632$405,130
20$646,582$197,423$25,863$423,296
21$678,911$209,385$27,156$442,370
22$712,856$221,945$28,514$462,398
23$748,499$235,132$29,940$483,427
24$785,924$248,980$31,437$505,508
25$825,220$263,519$33,009$528,692
26$866,482$278,786$34,659$553,036
27$909,806$294,816$36,392$578,598
28$955,296$311,647$38,212$605,437
29$1,003,061$329,320$40,122$633,618
30$1,053,214$347,877$42,129$663,208
Total$17,000,000$5,111,032$680,003$11,208,972

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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.