USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 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 $19,000,000 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, Aug 18, 1998
Jackpot:$19,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,977$70,467$11,439$204,071
2$300,276$75,471$12,011$212,794
3$315,290$80,726$12,612$221,952
4$331,054$86,244$13,242$231,568
5$347,607$92,037$13,904$241,666
6$364,988$98,120$14,600$252,268
7$383,237$104,508$15,329$263,400
8$402,399$111,214$16,096$275,088
9$422,519$118,256$16,901$287,362
10$443,645$125,650$17,746$300,248
11$465,827$133,414$18,633$313,780
12$489,118$141,566$19,565$327,987
13$513,574$150,126$20,543$342,905
14$539,253$159,113$21,570$358,569
15$566,215$168,550$22,649$375,017
16$594,526$178,459$23,781$392,286
17$624,253$189,161$24,970$410,121
18$655,465$200,710$26,219$428,537
19$688,238$212,836$27,530$447,873
20$722,650$225,568$28,906$468,176
21$758,783$238,937$30,351$489,494
22$796,722$252,975$31,869$511,878
23$836,558$267,714$33,462$535,382
24$878,386$283,191$35,135$560,060
25$922,305$299,441$36,892$585,972
26$968,421$316,503$38,737$613,180
27$1,016,842$334,419$40,674$641,749
28$1,067,684$353,231$42,707$671,746
29$1,121,068$372,983$44,843$703,242
30$1,177,121$393,723$47,085$736,314
Total$19,000,000$5,835,313$760,001$12,404,685

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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.