USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jan 12, 1999

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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 $22,000,000 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, Jan 12, 1999
Jackpot:$22,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$86,271$32,616$212,244
2$347,688$92,066$34,247$221,375
3$365,073$98,150$35,960$230,963
4$383,326$104,539$37,758$241,030
5$402,492$111,247$39,646$251,600
6$422,617$118,291$41,628$262,699
7$443,748$125,687$43,709$274,352
8$465,935$133,452$45,895$286,589
9$489,232$141,606$48,189$299,437
10$513,694$150,168$50,599$312,927
11$539,378$159,157$53,129$327,092
12$566,347$168,596$55,785$341,966
13$594,665$178,507$58,574$357,583
14$624,398$189,215$61,503$373,680
15$655,618$200,766$64,578$390,273
16$688,399$212,895$67,807$407,696
17$722,819$225,631$71,198$425,990
18$758,960$239,003$74,758$445,199
19$796,908$253,044$78,495$465,369
20$836,753$267,786$82,420$486,546
21$878,591$283,266$86,541$508,783
22$922,520$299,520$90,868$532,132
23$968,646$316,587$95,412$556,648
24$1,017,078$334,507$100,182$582,389
25$1,067,932$353,323$105,191$609,418
26$1,121,329$373,079$110,451$637,799
27$1,177,395$393,824$115,973$667,598
28$1,236,265$415,606$121,772$698,887
29$1,298,079$438,477$127,861$731,741
30$1,362,982$462,491$134,254$766,237
Total$22,000,000$6,926,757$2,166,999$12,906,242

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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.