USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Sep 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 $18,000,000 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, Sep 18, 1998
Jackpot:$18,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$270,926$65,199$26,686$179,041
2$284,472$69,940$28,021$186,512
3$298,696$74,918$29,422$194,356
4$313,631$80,145$30,893$202,592
5$329,312$85,634$32,437$211,241
6$345,778$91,397$34,059$220,322
7$363,067$97,448$35,762$229,856
8$381,220$103,802$37,550$239,868
9$400,281$110,473$39,428$250,380
10$420,295$117,478$41,399$261,418
11$441,310$124,833$43,469$273,008
12$463,375$132,556$45,642$285,177
13$486,544$140,665$47,925$297,954
14$510,871$149,180$50,321$311,371
15$536,415$158,120$52,837$325,458
16$563,235$167,507$55,479$340,250
17$591,397$177,364$58,253$355,781
18$620,967$187,946$61,165$371,856
19$652,015$199,433$64,224$388,358
20$684,616$211,496$67,435$405,686
21$718,847$224,161$70,806$423,879
22$754,789$237,460$74,347$442,983
23$792,529$251,423$78,064$463,041
24$832,155$266,085$81,967$484,103
25$873,763$281,480$86,066$506,217
26$917,451$297,645$90,369$529,437
27$963,324$314,617$94,887$553,819
28$1,011,490$332,439$99,632$579,419
29$1,062,064$351,152$104,613$606,299
30$1,115,167$370,800$109,844$634,524
Total$18,000,000$5,472,796$1,773,002$10,754,206

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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.