USA Mega

Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Dec 5, 1997

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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 $8,000,000 for a ticket purchased in Massachusetts, 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:

Massachusetts

Drawing Date:Fri, Dec 5, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,941$10,837$87,633
2$126,432$23,386$11,379$91,667
3$132,754$24,903$11,948$95,902
4$139,391$26,496$12,545$100,350
5$146,361$28,169$13,172$105,019
6$153,679$29,925$13,831$109,922
7$161,363$31,770$14,523$115,071
8$169,431$33,706$15,249$120,476
9$177,903$35,739$16,011$126,152
10$186,798$37,874$16,812$132,112
11$196,138$40,451$17,652$138,035
12$205,944$43,589$18,535$143,821
13$216,242$46,884$19,462$149,896
14$227,054$50,344$20,435$156,275
15$238,406$53,977$21,457$162,973
16$250,327$57,989$22,529$169,808
17$262,843$62,370$23,656$176,817
18$275,985$66,970$24,839$184,177
19$289,785$71,799$26,081$191,905
20$304,274$76,871$27,385$200,019
21$319,488$82,195$28,754$208,538
22$335,462$87,786$30,192$217,484
23$352,235$93,657$31,701$226,877
24$369,847$99,821$33,286$236,739
25$388,339$106,293$34,951$247,095
26$407,756$113,089$36,698$257,969
27$428,144$120,225$38,533$269,386
28$449,551$127,718$40,460$281,374
29$472,029$135,585$42,483$293,961
30$495,630$143,845$44,607$307,178
Total$8,000,000$1,975,367$720,003$5,304,631

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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.