USA Mega

Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $16,000,000 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, Sep 15, 1998
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$21,674$164,399
2$252,864$58,877$22,758$171,229
3$265,507$63,302$23,896$178,309
4$278,783$67,949$25,090$185,744
5$292,722$72,827$26,345$193,549
6$307,358$77,950$27,662$201,746
7$322,726$83,329$29,045$210,352
8$338,862$88,976$30,498$219,388
9$355,805$94,907$32,022$228,876
10$373,595$101,133$33,624$238,839
11$392,275$107,671$35,305$249,299
12$411,889$114,536$37,070$260,283
13$432,483$121,744$38,924$271,816
14$454,108$129,312$40,870$283,926
15$476,813$137,259$42,913$296,641
16$500,654$145,604$45,059$309,991
17$525,686$154,365$47,312$324,010
18$551,971$163,564$49,677$338,729
19$579,569$173,224$52,161$354,184
20$608,548$183,366$54,769$370,412
21$638,975$194,609$57,508$386,859
22$670,924$206,430$60,383$404,111
23$704,470$218,842$63,402$422,226
24$739,693$231,874$66,572$441,247
25$776,678$245,559$69,901$461,218
26$815,512$259,927$73,396$482,189
27$856,288$275,014$77,066$504,208
28$899,102$290,855$80,919$527,327
29$944,057$307,489$84,965$551,603
30$991,260$324,954$89,213$577,093
Total$16,000,000$4,750,198$1,439,999$9,809,803

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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.