USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 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 $17,000,000 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, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$25,204$170,740
2$268,668$64,409$26,464$177,796
3$282,102$69,110$27,787$185,204
4$296,207$74,047$29,176$192,983
5$311,017$79,231$30,635$201,151
6$326,568$84,673$32,167$209,727
7$342,896$90,388$33,775$218,732
8$360,041$96,389$35,464$228,188
9$378,043$102,690$37,237$238,116
10$396,945$109,306$39,099$248,541
11$416,792$116,252$41,054$259,486
12$437,632$123,546$43,107$270,979
13$459,514$131,205$45,262$283,047
14$482,489$139,246$47,525$295,718
15$506,614$147,690$49,901$309,023
16$531,945$156,555$52,397$322,993
17$558,542$165,864$55,016$337,661
18$586,469$175,639$57,767$353,063
19$615,792$186,031$60,656$369,106
20$646,582$197,423$63,688$385,471
21$678,911$209,385$66,873$402,653
22$712,856$221,945$70,216$420,695
23$748,499$235,132$73,727$439,640
24$785,924$248,980$77,414$459,531
25$825,220$263,519$81,284$480,417
26$866,482$278,786$85,348$502,347
27$909,806$294,816$89,616$525,374
28$955,296$311,647$94,097$549,552
29$1,003,061$329,320$98,801$574,939
30$1,053,214$347,877$103,742$601,595
Total$17,000,000$5,111,032$1,674,499$10,214,468

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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.