USA Mega

Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 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 $15,000,000 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, Feb 13, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$20,319$155,519
2$237,060$53,546$21,335$162,179
3$248,913$57,494$22,402$169,017
4$261,359$61,850$23,522$175,986
5$274,427$66,424$24,698$183,304
6$288,148$71,227$25,933$190,988
7$302,555$76,269$27,230$199,056
8$317,683$81,564$28,591$207,528
9$333,567$87,123$30,021$216,423
10$350,246$92,961$31,522$225,763
11$367,758$99,090$33,098$235,570
12$386,146$105,526$34,753$245,867
13$405,453$112,283$36,491$256,679
14$425,726$119,379$38,315$268,032
15$447,012$126,829$40,231$279,952
16$469,363$134,652$42,243$292,468
17$492,831$142,866$44,355$305,611
18$517,472$151,490$46,573$319,410
19$543,346$160,546$48,901$333,899
20$570,513$170,054$51,346$349,113
21$599,039$180,038$53,914$365,087
22$628,991$190,914$56,609$381,467
23$660,441$202,551$59,440$398,450
24$693,463$214,769$62,412$416,282
25$728,136$227,598$65,532$435,006
26$764,543$241,068$68,809$454,665
27$802,770$255,213$72,249$475,308
28$842,908$270,064$75,862$496,983
29$885,054$285,658$79,655$519,741
30$929,306$302,031$83,638$543,638
Total$15,000,000$4,391,010$1,349,999$9,258,991

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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.