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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Aug 21, 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 $22,000,000 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, Aug 21, 1998
Jackpot:$22,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$86,271$29,802$215,059
2$347,688$92,066$31,292$224,331
3$365,073$98,150$32,857$234,066
4$383,326$104,539$34,499$244,288
5$402,492$111,247$36,224$255,021
6$422,617$118,291$38,036$266,291
7$443,748$125,687$39,937$278,124
8$465,935$133,452$41,934$290,549
9$489,232$141,606$44,031$303,595
10$513,694$150,168$46,232$317,294
11$539,378$159,157$48,544$331,677
12$566,347$168,596$50,971$346,780
13$594,665$178,507$53,520$362,637
14$624,398$189,215$56,196$378,987
15$655,618$200,766$59,006$395,846
16$688,399$212,895$61,956$413,548
17$722,819$225,631$65,054$432,134
18$758,960$239,003$68,306$451,650
19$796,908$253,044$71,722$472,142
20$836,753$267,786$75,308$493,659
21$878,591$283,266$79,073$516,251
22$922,520$299,520$83,027$539,973
23$968,646$316,587$87,178$564,881
24$1,017,078$334,507$91,537$591,035
25$1,067,932$353,323$96,114$618,496
26$1,121,329$373,079$100,920$647,330
27$1,177,395$393,824$105,966$677,606
28$1,236,265$415,606$111,264$709,395
29$1,298,079$438,477$116,827$742,775
30$1,362,982$462,491$122,668$777,823
Total$22,000,000$6,926,757$1,980,001$13,093,243

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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.