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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jun 3, 2005

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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 $106,000,000 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, Jun 3, 2005
Jackpot:$106,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,595,452$548,505$63,818$983,129
2$1,675,225$578,021$67,009$1,030,195
3$1,758,986$609,013$70,359$1,079,614
4$1,846,935$641,554$73,877$1,131,504
5$1,939,282$675,722$77,571$1,185,989
6$2,036,246$711,599$81,450$1,243,197
7$2,138,058$749,269$85,522$1,303,267
8$2,244,961$788,823$89,798$1,366,339
9$2,357,209$830,355$94,288$1,432,566
10$2,475,070$873,964$99,003$1,502,103
11$2,598,823$919,752$103,953$1,575,118
12$2,728,765$967,831$109,151$1,651,783
13$2,865,203$1,018,313$114,608$1,732,282
14$3,008,463$1,071,319$120,339$1,816,805
15$3,158,886$1,126,976$126,355$1,905,555
16$3,316,830$1,185,415$132,673$1,998,742
17$3,482,672$1,246,776$139,307$2,096,589
18$3,656,805$1,311,206$146,272$2,199,327
19$3,839,646$1,378,857$153,586$2,307,203
20$4,031,628$1,449,890$161,265$2,420,473
21$4,233,209$1,524,475$169,328$2,539,406
22$4,444,870$1,602,790$177,795$2,664,285
23$4,667,113$1,685,020$186,685$2,795,409
24$4,900,469$1,771,361$196,019$2,933,089
25$5,145,492$1,862,020$205,820$3,077,653
26$5,402,767$1,957,212$216,111$3,229,445
27$5,672,906$2,057,163$226,916$3,388,827
28$5,956,551$2,162,112$238,262$3,556,177
29$6,254,378$2,272,308$250,175$3,731,895
30$6,567,097$2,388,014$262,684$3,916,400
Total$106,000,000$37,965,635$4,239,999$63,794,366

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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.