USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Mar 15, 2002

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The tax information provided here is based on 2025 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 $42,000,000 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, Mar 15, 2002
Jackpot:$42,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$632,160$190,920$25,286$415,954
2$663,768$202,615$26,551$434,603
3$696,957$214,894$27,878$454,184
4$731,805$227,788$29,272$474,744
5$768,395$241,326$30,736$496,333
6$806,814$255,542$32,273$519,000
7$847,155$270,468$33,886$542,801
8$889,513$286,140$35,581$567,792
9$933,989$302,596$37,360$594,033
10$980,688$319,875$39,228$621,586
11$1,029,722$338,018$41,189$650,516
12$1,081,209$357,067$43,248$680,893
13$1,135,269$377,070$45,411$712,788
14$1,192,032$398,072$47,681$746,279
15$1,251,634$420,125$50,065$781,444
16$1,314,216$443,280$52,569$818,367
17$1,379,927$467,593$55,197$857,136
18$1,448,923$493,122$57,957$897,844
19$1,521,369$519,927$60,855$940,587
20$1,597,438$548,072$63,898$985,468
21$1,677,309$577,625$67,092$1,032,592
22$1,761,175$608,655$70,447$1,082,073
23$1,849,234$641,237$73,969$1,134,028
24$1,941,695$675,448$77,668$1,188,580
25$2,038,780$711,369$81,551$1,245,860
26$2,140,719$749,086$85,629$1,306,004
27$2,247,755$788,690$89,910$1,369,155
28$2,360,143$830,273$94,406$1,435,464
29$2,478,150$873,936$99,126$1,505,088
30$2,602,057$919,781$104,082$1,578,194
Total$42,000,000$14,250,610$1,680,001$26,069,390

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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.