USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jan 12, 1999

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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 $22,000,000 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, Jan 12, 1999
Jackpot:$22,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$86,271$13,245$231,616
2$347,688$92,066$13,908$241,715
3$365,073$98,150$14,603$252,320
4$383,326$104,539$15,333$263,454
5$402,492$111,247$16,100$275,146
6$422,617$118,291$16,905$287,422
7$443,748$125,687$17,750$300,312
8$465,935$133,452$18,637$313,846
9$489,232$141,606$19,569$328,057
10$513,694$150,168$20,548$342,978
11$539,378$159,157$21,575$358,646
12$566,347$168,596$22,654$375,097
13$594,665$178,507$23,787$392,371
14$624,398$189,215$24,976$410,207
15$655,618$200,766$26,225$428,627
16$688,399$212,895$27,536$447,968
17$722,819$225,631$28,913$468,275
18$758,960$239,003$30,358$489,598
19$796,908$253,044$31,876$511,988
20$836,753$267,786$33,470$535,497
21$878,591$283,266$35,144$560,181
22$922,520$299,520$36,901$586,099
23$968,646$316,587$38,746$613,313
24$1,017,078$334,507$40,683$641,889
25$1,067,932$353,323$42,717$671,892
26$1,121,329$373,079$44,853$703,396
27$1,177,395$393,824$47,096$736,476
28$1,236,265$415,606$49,451$771,209
29$1,298,079$438,477$51,923$807,679
30$1,362,982$462,491$54,519$845,972
Total$22,000,000$6,926,757$880,001$14,193,246

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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.