USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Feb 24, 1998

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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 $7,000,000 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:Tue, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,133$10,378$76,849
2$110,628$19,398$10,897$80,333
3$116,159$20,725$11,442$83,992
4$121,967$22,119$12,014$87,834
5$128,066$23,583$12,614$91,869
6$134,469$25,120$13,245$96,104
7$141,193$26,733$13,907$100,552
8$148,252$28,428$14,603$105,222
9$155,665$30,207$15,333$110,125
10$163,448$32,075$16,100$115,274
11$171,620$34,036$16,905$120,680
12$180,201$36,095$17,750$126,356
13$189,212$38,258$18,637$132,316
14$198,672$40,638$19,569$138,465
15$208,606$43,817$20,548$144,241
16$219,036$47,155$21,575$150,306
17$229,988$50,659$22,654$156,675
18$241,487$54,339$23,786$163,362
19$253,562$58,294$24,976$170,292
20$266,240$62,731$26,225$177,284
21$279,552$67,390$27,536$184,625
22$293,529$72,282$28,913$192,334
23$308,206$77,419$30,358$200,428
24$323,616$82,813$31,876$208,927
25$339,797$88,476$33,470$217,851
26$356,787$94,423$35,143$227,221
27$374,626$100,666$36,901$237,059
28$393,357$107,222$38,746$247,389
29$413,025$114,106$40,683$258,236
30$433,676$121,334$42,717$269,625
Total$7,000,000$1,638,674$689,501$4,671,826

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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.