USA Mega

Maine Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 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 $5,000,000 for a ticket purchased in Maine, 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:

Maine

Drawing Date:Fri, Jan 23, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$5,381$58,267
2$79,020$12,437$5,650$60,933
3$82,971$13,307$5,932$63,732
4$87,120$14,219$6,229$66,671
5$91,476$15,178$6,541$69,757
6$96,049$16,184$6,868$72,998
7$100,852$17,247$7,211$76,394
8$105,894$18,457$7,571$79,866
9$111,189$19,728$7,950$83,511
10$116,749$21,062$8,348$87,339
11$122,586$22,463$8,765$91,358
12$128,715$23,934$9,203$95,578
13$135,151$25,479$9,663$100,009
14$141,909$27,101$10,146$104,662
15$149,004$28,803$10,654$109,547
16$156,454$30,592$11,186$114,676
17$164,277$32,469$11,746$120,062
18$172,491$34,440$12,333$125,717
19$181,115$36,510$12,950$131,655
20$190,171$38,684$13,597$137,890
21$199,680$41,584$14,277$143,819
22$209,664$44,779$14,991$149,894
23$220,147$48,133$15,741$156,273
24$231,154$51,656$16,528$162,971
25$242,712$55,354$17,354$170,004
26$254,848$59,571$18,222$177,055
27$267,590$64,031$19,133$184,426
28$280,969$68,714$20,089$192,166
29$295,018$73,631$21,094$200,293
30$309,769$78,794$22,148$208,826
Total$5,000,000$1,046,151$357,501$3,596,349

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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.