USA Mega

Maine Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $16,000,000 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, Sep 15, 1998
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$17,219$168,854
2$252,864$58,877$18,080$175,907
3$265,507$63,302$18,984$183,221
4$278,783$67,949$19,933$190,901
5$292,722$72,827$20,930$198,965
6$307,358$77,950$21,976$207,432
7$322,726$83,329$23,075$216,322
8$338,862$88,976$24,229$225,657
9$355,805$94,907$25,440$235,459
10$373,595$101,133$26,712$245,750
11$392,275$107,671$28,048$256,556
12$411,889$114,536$29,450$267,903
13$432,483$121,744$30,923$279,817
14$454,108$129,312$32,469$292,327
15$476,813$137,259$34,092$305,462
16$500,654$145,604$35,797$319,253
17$525,686$154,365$37,587$333,735
18$551,971$163,564$39,466$348,940
19$579,569$173,224$41,439$364,906
20$608,548$183,366$43,511$381,670
21$638,975$194,609$45,687$398,680
22$670,924$206,430$47,971$416,523
23$704,470$218,842$50,370$435,259
24$739,693$231,874$52,888$454,931
25$776,678$245,559$55,532$475,587
26$815,512$259,927$58,309$497,276
27$856,288$275,014$61,225$520,049
28$899,102$290,855$64,286$543,961
29$944,057$307,489$67,500$569,068
30$991,260$324,954$70,875$595,431
Total$16,000,000$4,750,198$1,144,003$10,105,802

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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.