USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Feb 9, 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 $7,000,000 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, Feb 9, 1999
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,329$4,214$82,817
2$110,628$19,593$4,425$86,610
3$116,159$20,921$4,646$90,592
4$121,967$22,315$4,879$94,774
5$128,066$23,778$5,123$99,165
6$134,469$25,315$5,379$103,775
7$141,193$26,929$5,648$108,616
8$148,252$28,623$5,930$113,699
9$155,665$30,402$6,227$119,036
10$163,448$32,270$6,538$124,640
11$171,620$34,231$6,865$130,524
12$180,201$36,291$7,208$136,703
13$189,212$38,453$7,568$143,190
14$198,672$41,262$7,947$149,464
15$208,606$44,440$8,344$155,821
16$219,036$47,778$8,761$162,497
17$229,988$51,283$9,200$169,506
18$241,487$54,962$9,659$176,865
19$253,562$59,121$10,142$184,298
20$266,240$63,559$10,650$192,031
21$279,552$68,218$11,182$200,152
22$293,529$73,110$11,741$208,678
23$308,206$78,247$12,328$217,631
24$323,616$83,640$12,945$227,031
25$339,797$89,304$13,592$236,901
26$356,787$95,250$14,271$247,265
27$374,626$101,494$14,985$258,147
28$393,357$108,050$15,734$269,573
29$413,025$114,933$16,521$281,570
30$433,676$122,161$17,347$294,168
Total$7,000,000$1,654,262$279,999$5,065,739

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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.