USA Mega

Maine Mega Millions Jackpot Annuity Payout Schedule for Aug 11, 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 $15,000,000 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, Aug 11, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$16,143$159,695
2$237,060$53,546$16,950$166,565
3$248,913$57,494$17,797$173,621
4$261,359$61,850$18,687$180,821
5$274,427$66,424$19,622$188,381
6$288,148$71,227$20,603$196,319
7$302,555$76,269$21,633$204,654
8$317,683$81,564$22,714$213,405
9$333,567$87,123$23,850$222,594
10$350,246$92,961$25,043$232,242
11$367,758$99,090$26,295$242,373
12$386,146$105,526$27,609$253,011
13$405,453$112,283$28,990$264,180
14$425,726$119,379$30,439$275,908
15$447,012$126,829$31,961$288,222
16$469,363$134,652$33,559$301,152
17$492,831$142,866$35,237$314,728
18$517,472$151,490$36,999$328,983
19$543,346$160,546$38,849$343,951
20$570,513$170,054$40,792$359,667
21$599,039$180,038$42,831$376,169
22$628,991$190,914$44,973$393,104
23$660,441$202,551$47,222$410,668
24$693,463$214,769$49,583$429,111
25$728,136$227,598$52,062$448,476
26$764,543$241,068$54,665$468,809
27$802,770$255,213$57,398$490,159
28$842,908$270,064$60,268$512,576
29$885,054$285,658$63,281$536,115
30$929,306$302,031$66,445$560,830
Total$15,000,000$4,391,010$1,072,500$9,536,489

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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.