USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 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 $15,000,000 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, Feb 13, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$22,238$153,600
2$237,060$53,546$23,350$160,164
3$248,913$57,494$24,518$166,901
4$261,359$61,850$25,744$173,765
5$274,427$66,424$27,031$180,972
6$288,148$71,227$28,383$188,539
7$302,555$76,269$29,802$196,485
8$317,683$81,564$31,292$204,828
9$333,567$87,123$32,856$213,588
10$350,246$92,961$34,499$222,786
11$367,758$99,090$36,224$232,444
12$386,146$105,526$38,035$242,585
13$405,453$112,283$39,937$253,233
14$425,726$119,379$41,934$264,413
15$447,012$126,829$44,031$276,152
16$469,363$134,652$46,232$288,479
17$492,831$142,866$48,544$301,422
18$517,472$151,490$50,971$315,011
19$543,346$160,546$53,520$329,281
20$570,513$170,054$56,196$344,263
21$599,039$180,038$59,005$359,995
22$628,991$190,914$61,956$376,121
23$660,441$202,551$65,053$392,836
24$693,463$214,769$68,306$410,388
25$728,136$227,598$71,721$428,816
26$764,543$241,068$75,307$448,167
27$802,770$255,213$79,073$468,484
28$842,908$270,064$83,026$489,818
29$885,054$285,658$87,178$512,218
30$929,306$302,031$91,537$535,739
Total$15,000,000$4,391,010$1,477,499$9,131,493

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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.