USA Mega

Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Feb 12, 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 $10,000,000 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 12, 1999
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$13,546$107,802
2$158,040$30,972$14,224$112,844
3$165,942$32,869$14,935$118,139
4$174,239$34,860$15,682$123,698
5$182,951$36,951$16,466$129,535
6$192,099$39,158$17,289$135,652
7$201,704$42,232$18,153$141,319
8$211,789$45,459$19,061$147,269
9$222,378$48,848$20,014$153,517
10$233,497$52,406$21,015$160,077
11$245,172$56,185$22,065$166,922
12$257,431$60,475$23,169$173,786
13$270,302$64,981$24,327$180,994
14$283,817$69,711$25,544$188,563
15$298,008$74,678$26,821$196,510
16$312,909$79,893$28,162$204,854
17$328,554$85,369$29,570$213,615
18$344,982$91,118$31,048$222,815
19$362,231$97,156$32,601$232,474
20$380,342$103,495$34,231$242,617
21$399,359$110,151$35,942$253,267
22$419,327$117,139$37,739$264,449
23$440,294$124,478$39,626$276,190
24$462,308$132,183$41,608$288,518
25$485,424$140,273$43,688$301,463
26$509,695$148,768$45,873$315,054
27$535,180$157,688$48,166$329,326
28$561,939$167,053$50,574$344,311
29$590,036$176,887$53,103$360,045
30$619,537$187,417$55,758$376,362
Total$10,000,000$2,638,019$900,000$6,461,987

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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.