USA Mega

Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 1999

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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 $20,000,000 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, Jan 8, 1999
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$27,093$198,201
2$316,080$81,003$28,447$206,630
3$331,884$86,534$29,870$215,480
4$348,478$92,342$31,363$224,773
5$365,902$98,441$32,931$234,531
6$384,197$104,844$34,578$244,776
7$403,407$111,567$36,307$255,533
8$423,578$118,627$38,122$266,829
9$444,757$126,040$40,028$278,689
10$466,994$133,823$42,029$291,142
11$490,344$141,995$44,131$304,218
12$514,861$150,576$46,338$317,948
13$540,604$159,586$48,654$332,364
14$567,635$169,047$51,087$347,501
15$596,016$178,980$53,641$363,394
16$625,817$189,740$56,324$379,753
17$657,108$201,318$59,140$396,651
18$689,963$213,474$62,097$414,392
19$724,461$226,238$65,202$433,021
20$760,685$239,641$68,462$452,582
21$798,719$253,714$71,885$473,120
22$838,655$268,490$75,479$494,686
23$880,587$284,005$79,253$517,329
24$924,617$300,296$83,216$541,105
25$970,848$317,401$87,376$566,070
26$1,019,390$335,362$91,745$592,283
27$1,070,360$354,221$96,332$619,806
28$1,123,878$374,022$101,149$648,706
29$1,180,071$394,814$106,206$679,051
30$1,239,075$416,645$111,517$710,913
Total$20,000,000$6,198,521$1,800,002$12,001,477

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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.