USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Dec 18, 1998

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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 $10,000,000 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, Dec 18, 1998
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$14,826$106,523
2$158,040$30,972$15,567$111,501
3$165,942$32,869$16,345$116,728
4$174,239$34,860$17,163$122,217
5$182,951$36,951$18,021$127,980
6$192,099$39,158$18,922$134,019
7$201,704$42,232$19,868$139,604
8$211,789$45,459$20,861$145,469
9$222,378$48,848$21,904$151,626
10$233,497$52,406$22,999$158,092
11$245,172$56,185$24,149$164,838
12$257,431$60,475$25,357$171,598
13$270,302$64,981$26,625$178,697
14$283,817$69,711$27,956$186,150
15$298,008$74,678$29,354$193,977
16$312,909$79,893$30,821$202,194
17$328,554$85,369$32,363$210,823
18$344,982$91,118$33,981$219,883
19$362,231$97,156$35,680$229,395
20$380,342$103,495$37,464$239,384
21$399,359$110,151$39,337$249,872
22$419,327$117,139$41,304$260,884
23$440,294$124,478$43,369$272,447
24$462,308$132,183$45,537$284,588
25$485,424$140,273$47,814$297,336
26$509,695$148,768$50,205$310,722
27$535,180$157,688$52,715$324,777
28$561,939$167,053$55,351$339,534
29$590,036$176,887$58,119$355,030
30$619,537$187,417$61,024$371,096
Total$10,000,000$2,638,019$985,001$6,376,984

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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.