USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for May 30, 1997

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The tax information provided here is based on 2025 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 $8,000,000 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, May 30, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,746$11,861$86,805
2$126,432$23,191$12,454$90,788
3$132,754$24,708$13,076$94,970
4$139,391$26,301$13,730$99,360
5$146,361$27,974$14,417$103,971
6$153,679$29,730$15,137$108,812
7$161,363$31,574$15,894$113,895
8$169,431$33,510$16,689$119,232
9$177,903$35,544$17,523$124,836
10$186,798$37,678$18,400$130,720
11$196,138$39,920$19,320$136,898
12$205,944$42,965$20,286$142,694
13$216,242$46,260$21,300$148,682
14$227,054$49,720$22,365$154,969
15$238,406$53,353$23,483$161,570
16$250,327$57,168$24,657$168,502
17$262,843$61,542$25,890$175,411
18$275,985$66,142$27,185$182,659
19$289,785$70,972$28,544$190,269
20$304,274$76,043$29,971$198,260
21$319,488$81,368$31,470$206,650
22$335,462$86,959$33,043$215,460
23$352,235$92,829$34,695$224,710
24$369,847$98,994$36,430$234,423
25$388,339$105,466$38,251$244,622
26$407,756$112,262$40,164$255,330
27$428,144$119,398$42,172$266,574
28$449,551$126,890$44,281$278,380
29$472,029$134,757$46,495$290,776
30$495,630$143,018$48,820$303,793
Total$8,000,000$1,957,982$788,003$5,254,021

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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.