USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Aug 7, 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 $13,000,000 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, Aug 7, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$7,827$147,541
2$205,452$43,431$8,218$153,803
3$215,725$46,718$8,629$160,377
4$226,511$50,170$9,060$167,280
5$237,836$53,794$9,513$174,529
6$249,728$57,780$9,989$181,960
7$262,215$62,150$10,489$189,576
8$275,325$66,739$11,013$197,574
9$289,092$71,557$11,564$205,971
10$303,546$76,616$12,142$214,788
11$318,724$81,928$12,749$224,047
12$334,660$87,506$13,386$233,768
13$351,393$93,362$14,056$243,975
14$368,962$99,512$14,758$254,692
15$387,411$105,968$15,496$265,946
16$406,781$112,748$16,271$277,762
17$427,120$119,867$17,085$290,169
18$448,476$127,341$17,939$303,196
19$470,900$135,190$18,836$316,874
20$494,445$143,430$19,778$331,237
21$519,167$152,083$20,767$346,317
22$545,126$161,169$21,805$362,152
23$572,382$170,708$22,895$378,778
24$601,001$180,725$24,040$396,236
25$631,051$191,677$25,242$414,132
26$662,604$203,351$26,504$432,748
27$695,734$215,609$27,829$452,295
28$730,520$228,480$29,221$472,819
29$767,046$241,995$30,682$494,370
30$805,399$256,185$32,216$516,997
Total$13,000,000$3,678,089$519,999$8,801,909

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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.