USA Mega

Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Nov 24, 1998

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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 $27,000,000 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:Tue, Nov 24, 1998
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$36,575$257,203
2$426,708$119,723$38,404$268,582
3$448,044$127,190$40,324$280,530
4$470,446$135,031$42,340$293,075
5$493,968$143,264$44,457$306,247
6$518,666$151,908$46,680$320,078
7$544,600$160,985$49,014$334,601
8$571,830$170,515$51,465$349,850
9$600,421$180,522$54,038$365,861
10$630,442$191,451$56,740$382,251
11$661,964$203,115$59,577$399,273
12$695,063$215,361$62,556$417,146
13$729,816$228,220$65,683$435,913
14$766,307$241,721$68,968$455,618
15$804,622$255,898$72,416$476,308
16$844,853$270,783$76,037$498,033
17$887,096$286,413$79,839$520,844
18$931,450$302,824$83,831$544,795
19$978,023$320,056$88,022$569,945
20$1,026,924$338,150$92,423$596,351
21$1,078,270$357,148$97,044$624,078
22$1,132,184$377,096$101,897$653,192
23$1,188,793$398,041$106,991$683,760
24$1,248,233$420,034$112,341$715,858
25$1,310,644$443,126$117,958$749,560
26$1,376,177$467,373$123,856$784,948
27$1,444,985$492,832$130,049$822,104
28$1,517,235$519,565$136,551$861,119
29$1,593,096$547,633$143,379$902,084
30$1,672,751$577,106$150,548$945,098
Total$27,000,000$8,755,695$2,430,003$15,814,305

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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.