USA Mega

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

YearGross PaymentFederal TaxesState TaxesNet Payment
1$451,543$128,415$32,285$290,843
2$474,120$136,317$33,900$303,904
3$497,826$144,614$35,595$317,618
4$522,718$153,326$37,374$332,017
5$548,853$162,473$39,243$347,137
6$576,296$172,078$41,205$363,013
7$605,111$182,164$43,265$379,682
8$635,366$193,273$45,429$396,664
9$667,135$205,028$47,700$414,407
10$700,491$217,370$50,085$433,037
11$735,516$230,329$52,589$452,598
12$772,292$243,936$55,219$473,137
13$810,906$258,223$57,980$494,704
14$851,452$273,225$60,879$517,348
15$894,024$288,977$63,923$541,125
16$938,726$305,516$67,119$566,090
17$985,662$322,883$70,475$592,304
18$1,034,945$341,117$73,999$619,829
19$1,086,692$360,264$77,698$648,730
20$1,141,027$380,368$81,583$679,076
21$1,198,078$401,477$85,663$710,939
22$1,257,982$423,641$89,946$744,395
23$1,320,881$446,914$94,443$779,524
24$1,386,925$471,350$99,165$816,410
25$1,456,271$497,008$104,123$855,140
26$1,529,085$523,949$109,330$895,806
27$1,605,539$552,237$114,796$938,506
28$1,685,816$581,940$120,536$983,341
29$1,770,107$613,127$126,563$1,030,417
30$1,858,612$645,874$132,891$1,079,847
Total$30,000,000$9,857,413$2,145,001$17,997,588

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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.