USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 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 $19,000,000 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, Aug 18, 1998
Jackpot:$19,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,977$70,467$12,154$203,356
2$300,276$75,471$12,762$212,043
3$315,290$80,726$13,400$221,164
4$331,054$86,244$14,070$230,741
5$347,607$92,037$14,773$240,797
6$364,988$98,120$15,512$251,355
7$383,237$104,508$16,288$262,442
8$402,399$111,214$17,102$274,082
9$422,519$118,256$17,957$286,305
10$443,645$125,650$18,855$299,139
11$465,827$133,414$19,798$312,615
12$489,118$141,566$20,788$326,765
13$513,574$150,126$21,827$341,622
14$539,253$159,113$22,918$357,221
15$566,215$168,550$24,064$373,601
16$594,526$178,459$25,267$390,800
17$624,253$189,161$26,531$408,561
18$655,465$200,710$27,857$426,898
19$688,238$212,836$29,250$446,152
20$722,650$225,568$30,713$466,369
21$758,783$238,937$32,248$487,597
22$796,722$252,975$33,861$509,886
23$836,558$267,714$35,554$533,290
24$878,386$283,191$37,331$557,864
25$922,305$299,441$39,198$583,667
26$968,421$316,503$41,158$610,759
27$1,016,842$334,419$43,216$639,207
28$1,067,684$353,231$45,377$669,076
29$1,121,068$372,983$47,645$700,440
30$1,177,121$393,723$50,028$733,371
Total$19,000,000$5,835,313$807,502$12,357,185

◄ 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.