USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 14, 1997

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

Minnesota

Drawing Date:Fri, Nov 14, 1997
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$16,308$116,479
2$173,844$34,765$17,124$121,955
3$182,536$36,851$17,980$127,705
4$191,663$39,042$18,879$133,743
5$201,246$42,085$19,823$139,338
6$211,309$45,305$20,814$145,189
7$221,874$48,686$21,855$151,333
8$232,968$52,236$22,947$157,784
9$244,616$55,990$24,095$164,531
10$256,847$60,271$25,299$171,276
11$269,689$64,766$26,564$178,359
12$283,174$69,486$27,893$185,796
13$297,332$74,441$29,287$193,604
14$312,199$79,644$30,752$201,803
15$327,809$85,108$32,289$210,412
16$344,199$90,845$33,904$219,451
17$361,409$96,868$35,599$228,943
18$379,480$103,193$37,379$238,908
19$398,454$109,834$39,248$249,373
20$418,376$116,807$41,210$260,360
21$439,295$124,128$43,271$271,897
22$461,260$131,816$45,434$284,010
23$484,323$139,888$47,706$296,729
24$508,539$148,363$50,091$310,085
25$533,966$157,263$52,596$324,108
26$560,665$166,607$55,225$338,832
27$588,698$176,419$57,987$354,292
28$618,133$186,897$60,886$370,350
29$649,039$198,332$63,930$386,777
30$681,491$210,340$67,127$404,025
Total$11,000,000$2,979,054$1,083,502$6,937,447

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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.