USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Oct 9, 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 $32,000,000 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, Oct 9, 1998
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$481,646$138,951$47,442$295,253
2$505,728$147,380$49,814$308,534
3$531,015$156,230$52,305$322,480
4$557,565$165,523$54,920$337,123
5$585,444$175,280$57,666$352,497
6$614,716$185,633$60,550$368,534
7$645,452$197,005$63,577$384,870
8$677,724$208,946$66,756$402,023
9$711,610$221,484$70,094$420,033
10$747,191$234,648$73,598$438,944
11$784,550$248,471$77,278$458,801
12$823,778$262,986$81,142$479,650
13$864,967$278,225$85,199$501,542
14$908,215$294,227$89,459$524,529
15$953,626$311,029$93,932$548,664
16$1,001,307$328,671$98,629$574,007
17$1,051,373$347,196$103,560$600,617
18$1,103,941$366,646$108,738$628,557
19$1,159,138$387,069$114,175$657,894
20$1,217,095$408,513$119,884$688,698
21$1,277,950$431,029$125,878$721,043
22$1,341,848$454,671$132,172$755,004
23$1,408,940$479,496$138,781$790,664
24$1,479,387$505,561$145,720$828,106
25$1,553,356$532,930$153,006$867,421
26$1,631,024$561,667$160,656$908,702
27$1,712,575$591,841$168,689$952,046
28$1,798,204$623,523$177,123$997,558
29$1,888,114$656,790$185,979$1,045,345
30$1,982,520$691,720$195,278$1,095,522
Total$32,000,000$10,593,341$3,152,000$18,254,661

◄ 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.