USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 1998

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $11,000,000 for a ticket purchased in Michigan, 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:

Michigan

Drawing Date:Tue, Jul 21, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$7,037$125,751
2$173,844$34,765$7,388$131,691
3$182,536$36,851$7,758$137,927
4$191,663$39,042$8,146$144,476
5$201,246$42,085$8,553$150,608
6$211,309$45,305$8,981$157,023
7$221,874$48,686$9,430$163,758
8$232,968$52,236$9,901$170,830
9$244,616$55,990$10,396$178,230
10$256,847$60,271$10,916$185,660
11$269,689$64,766$11,462$193,461
12$283,174$69,486$12,035$201,653
13$297,332$74,441$12,637$210,255
14$312,199$79,644$13,268$219,286
15$327,809$85,108$13,932$228,769
16$344,199$90,845$14,628$238,726
17$361,409$96,868$15,360$249,181
18$379,480$103,193$16,128$260,159
19$398,454$109,834$16,934$271,686
20$418,376$116,807$17,781$283,789
21$439,295$124,128$18,670$296,497
22$461,260$131,816$19,604$309,841
23$484,323$139,888$20,584$323,852
24$508,539$148,363$21,613$338,563
25$533,966$157,263$22,694$354,010
26$560,665$166,607$23,828$370,229
27$588,698$176,419$25,020$387,259
28$618,133$186,897$26,271$404,965
29$649,039$198,332$27,584$423,123
30$681,491$210,340$28,963$442,188
Total$11,000,000$2,979,054$467,502$7,553,446

◄ Back to Jackpot Analysis

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.