USA Mega

Missouri Mega Millions Jackpot Annuity Payout Schedule for Feb 24, 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 $7,000,000 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:Tue, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,329$5,215$81,816
2$110,628$19,593$5,476$85,559
3$116,159$20,921$5,750$89,489
4$121,967$22,315$6,037$93,615
5$128,066$23,778$6,339$97,948
6$134,469$25,315$6,656$102,498
7$141,193$26,929$6,989$107,275
8$148,252$28,623$7,338$112,291
9$155,665$30,402$7,705$117,557
10$163,448$32,270$8,091$123,087
11$171,620$34,231$8,495$128,894
12$180,201$36,291$8,920$134,991
13$189,212$38,453$9,366$141,392
14$198,672$41,262$9,834$147,576
15$208,606$44,440$10,326$153,839
16$219,036$47,778$10,842$160,416
17$229,988$51,283$11,384$167,321
18$241,487$54,962$11,954$174,571
19$253,562$59,121$12,551$181,889
20$266,240$63,559$13,179$189,502
21$279,552$68,218$13,838$197,496
22$293,529$73,110$14,530$205,890
23$308,206$78,247$15,256$214,703
24$323,616$83,640$16,019$223,957
25$339,797$89,304$16,820$233,673
26$356,787$95,250$17,661$243,876
27$374,626$101,494$18,544$254,588
28$393,357$108,050$19,471$265,836
29$413,025$114,933$20,445$277,647
30$433,676$122,161$21,467$290,048
Total$7,000,000$1,654,262$346,498$4,999,240

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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.