USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Nov 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 $25,000,000 for a ticket purchased in Mississippi, 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:

Mississippi

Drawing Date:Fri, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$17,685$256,526
2$395,100$108,660$18,570$267,871
3$414,855$115,574$19,498$279,783
4$435,598$122,834$20,473$292,291
5$457,378$130,457$21,497$305,424
6$480,247$138,461$22,572$319,214
7$504,259$146,865$23,700$333,693
8$529,472$155,690$24,885$348,897
9$555,946$164,956$26,129$364,860
10$583,743$174,685$27,436$381,622
11$612,930$184,972$28,808$399,150
12$643,577$196,311$30,248$417,017
13$675,755$208,217$31,761$435,778
14$709,543$220,719$33,349$455,476
15$745,020$233,845$35,016$476,159
16$782,271$247,628$36,767$497,876
17$821,385$262,100$38,605$520,680
18$862,454$277,296$40,535$544,623
19$905,577$293,251$42,562$569,764
20$950,856$310,004$44,690$596,161
21$998,398$327,595$46,925$623,879
22$1,048,318$346,066$49,271$652,982
23$1,100,734$365,459$51,735$683,540
24$1,155,771$385,823$54,321$715,627
25$1,213,560$407,205$57,037$749,317
26$1,274,238$429,656$59,889$784,693
27$1,337,949$453,229$62,884$821,837
28$1,404,847$477,981$66,028$860,838
29$1,475,089$503,971$69,329$901,789
30$1,548,844$531,260$72,796$944,788
Total$25,000,000$8,022,845$1,175,001$15,802,155

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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.