USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 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 $16,000,000 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, Jun 13, 1997
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,126$23,721$162,976
2$252,864$58,050$24,907$169,907
3$265,507$62,475$26,152$176,880
4$278,783$67,121$27,460$184,201
5$292,722$72,000$28,833$191,889
6$307,358$77,123$30,275$199,961
7$322,726$82,501$31,788$208,436
8$338,862$88,149$33,378$217,335
9$355,805$94,079$35,047$226,679
10$373,595$100,306$36,799$236,491
11$392,275$106,844$38,639$246,793
12$411,889$113,708$40,571$257,610
13$432,483$120,916$42,600$268,967
14$454,108$128,485$44,730$280,893
15$476,813$136,432$46,966$293,415
16$500,654$144,776$49,314$306,563
17$525,686$153,537$51,780$320,369
18$551,971$162,737$54,369$334,865
19$579,569$172,396$57,088$350,085
20$608,548$182,539$59,942$366,067
21$638,975$193,441$62,939$382,595
22$670,924$205,262$66,086$399,576
23$704,470$217,674$69,390$417,406
24$739,693$230,707$72,860$436,127
25$776,678$244,391$76,503$455,784
26$815,512$258,760$80,328$476,424
27$856,288$273,847$84,344$498,097
28$899,102$289,688$88,562$520,852
29$944,057$306,321$92,990$544,746
30$991,260$323,786$97,639$569,834
Total$16,000,000$4,722,177$1,576,000$9,701,823

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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.