USA Mega

Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jan 22, 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 $35,000,000 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, Jan 22, 1999
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$526,800$154,755$51,890$320,156
2$553,140$163,974$54,484$334,682
3$580,797$173,654$57,209$349,935
4$609,837$183,827$60,069$365,941
5$640,329$195,109$63,072$382,147
6$672,345$206,956$66,226$399,164
7$705,963$219,394$69,537$417,031
8$741,261$232,454$73,014$435,792
9$778,324$246,168$76,665$455,491
10$817,240$260,567$80,498$476,175
11$858,102$275,686$84,523$497,894
12$901,007$291,560$88,749$520,698
13$946,058$308,229$93,187$544,642
14$993,360$325,731$97,846$569,783
15$1,043,028$344,108$102,738$596,182
16$1,095,180$363,404$107,875$623,900
17$1,149,939$383,665$113,269$653,005
18$1,207,436$404,939$118,932$683,564
19$1,267,808$427,277$124,879$715,652
20$1,331,198$450,731$131,123$749,344
21$1,397,758$475,358$137,679$784,721
22$1,467,646$501,217$144,563$821,866
23$1,541,028$528,368$151,791$860,869
24$1,618,079$556,877$159,381$901,821
25$1,698,983$586,812$167,350$944,822
26$1,783,933$618,243$175,717$989,972
27$1,873,129$651,246$184,503$1,037,380
28$1,966,786$685,898$193,728$1,087,159
29$2,065,125$722,284$203,415$1,139,426
30$2,168,381$760,489$213,586$1,194,307
Total$35,000,000$11,698,980$3,447,498$19,853,521

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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.