USA Mega

Maine Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $12,000,000 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 8, 1998
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$12,914$131,312
2$189,648$38,558$13,560$137,530
3$199,130$41,408$14,238$143,484
4$209,087$44,594$14,950$149,543
5$219,541$47,940$15,697$155,904
6$230,518$51,452$16,482$162,584
7$242,044$55,141$17,306$169,597
8$254,147$59,326$18,171$176,649
9$266,854$63,774$19,080$184,000
10$280,197$68,444$20,034$191,719
11$294,206$73,347$21,036$199,824
12$308,917$78,496$22,088$208,334
13$324,363$83,902$23,192$217,269
14$340,581$89,578$24,352$226,651
15$357,610$95,538$25,569$236,502
16$375,490$101,796$26,848$246,846
17$394,265$108,367$28,190$257,707
18$413,978$115,267$29,599$269,112
19$434,677$122,512$31,079$281,086
20$456,411$130,119$32,633$293,659
21$479,231$138,106$34,265$306,861
22$503,193$146,492$35,978$320,722
23$528,352$155,298$37,777$335,277
24$554,770$164,544$39,666$350,560
25$582,509$174,253$41,649$366,606
26$611,634$184,492$43,732$383,410
27$642,216$195,808$45,918$400,490
28$674,327$207,689$48,214$418,424
29$708,043$220,164$50,625$437,254
30$743,445$233,262$53,156$457,026
Total$12,000,000$3,326,058$857,998$7,815,942

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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.