USA Mega

Maine Mega Millions Jackpot Annuity Payout Schedule for Nov 24, 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 $27,000,000 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:Tue, Nov 24, 1998
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$29,057$264,721
2$426,708$119,723$30,510$276,476
3$448,044$127,190$32,035$288,818
4$470,446$135,031$33,637$301,778
5$493,968$143,264$35,319$315,386
6$518,666$151,908$37,085$329,674
7$544,600$160,985$38,939$344,676
8$571,830$170,515$40,886$360,429
9$600,421$180,522$42,930$376,969
10$630,442$191,451$45,077$393,914
11$661,964$203,115$47,330$411,519
12$695,063$215,361$49,697$430,005
13$729,816$228,220$52,182$449,414
14$766,307$241,721$54,791$469,794
15$804,622$255,898$57,530$491,194
16$844,853$270,783$60,407$513,663
17$887,096$286,413$63,427$537,255
18$931,450$302,824$66,599$562,027
19$978,023$320,056$69,929$588,038
20$1,026,924$338,150$73,425$615,349
21$1,078,270$357,148$77,096$644,026
22$1,132,184$377,096$80,951$674,137
23$1,188,793$398,041$84,999$705,753
24$1,248,233$420,034$89,249$738,950
25$1,310,644$443,126$93,711$773,807
26$1,376,177$467,373$98,397$810,407
27$1,444,985$492,832$103,316$848,837
28$1,517,235$519,565$108,482$889,188
29$1,593,096$547,633$113,906$931,557
30$1,672,751$577,106$119,602$976,044
Total$27,000,000$8,755,695$1,930,501$16,313,805

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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.