USA Mega

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

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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 $7,000,000 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, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,133$9,482$77,744
2$110,628$19,398$9,957$81,274
3$116,159$20,725$10,454$84,980
4$121,967$22,119$10,977$88,871
5$128,066$23,583$11,526$92,957
6$134,469$25,120$12,102$97,247
7$141,193$26,733$12,707$101,752
8$148,252$28,428$13,343$106,482
9$155,665$30,207$14,010$111,448
10$163,448$32,075$14,710$116,663
11$171,620$34,036$15,446$122,139
12$180,201$36,095$16,218$127,888
13$189,212$38,258$17,029$133,925
14$198,672$40,638$17,880$140,154
15$208,606$43,817$18,775$146,014
16$219,036$47,155$19,713$152,168
17$229,988$50,659$20,699$158,630
18$241,487$54,339$21,734$165,414
19$253,562$58,294$22,821$172,447
20$266,240$62,731$23,962$179,547
21$279,552$67,390$25,160$187,002
22$293,529$72,282$26,418$194,829
23$308,206$77,419$27,739$203,048
24$323,616$82,813$29,125$211,678
25$339,797$88,476$30,582$220,739
26$356,787$94,423$32,111$230,253
27$374,626$100,666$33,716$240,243
28$393,357$107,222$35,402$250,733
29$413,025$114,106$37,172$261,747
30$433,676$121,334$39,031$273,311
Total$7,000,000$1,638,674$630,001$4,731,327

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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.