USA Mega

Missouri Mega Millions Jackpot Annuity Payout Schedule for Feb 20, 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 $5,000,000 for a ticket purchased in Missouri, 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:

Missouri

Drawing Date:Fri, Feb 20, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$3,725$59,922
2$79,020$12,437$3,911$62,671
3$82,971$13,307$4,107$65,557
4$87,120$14,219$4,312$68,588
5$91,476$15,178$4,528$71,770
6$96,049$16,184$4,754$75,111
7$100,852$17,247$4,992$78,613
8$105,894$18,457$5,242$82,195
9$111,189$19,728$5,504$85,957
10$116,749$21,062$5,779$89,907
11$122,586$22,463$6,068$94,055
12$128,715$23,934$6,371$98,410
13$135,151$25,479$6,690$102,982
14$141,909$27,101$7,024$107,784
15$149,004$28,803$7,376$112,825
16$156,454$30,592$7,744$118,118
17$164,277$32,469$8,132$123,676
18$172,491$34,440$8,538$129,512
19$181,115$36,510$8,965$135,640
20$190,171$38,684$9,413$142,074
21$199,680$41,584$9,884$148,212
22$209,664$44,779$10,378$154,506
23$220,147$48,133$10,897$161,116
24$231,154$51,656$11,442$168,056
25$242,712$55,354$12,014$175,343
26$254,848$59,571$12,615$182,661
27$267,590$64,031$13,246$190,313
28$280,969$68,714$13,908$198,347
29$295,018$73,631$14,603$206,783
30$309,769$78,794$15,334$215,641
Total$5,000,000$1,046,151$247,496$3,706,345

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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.