USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Dec 22, 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 $11,000,000 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:Tue, Dec 22, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$7,782$125,006
2$173,844$34,765$8,171$130,908
3$182,536$36,851$8,579$137,106
4$191,663$39,042$9,008$143,613
5$201,246$42,085$9,459$149,702
6$211,309$45,305$9,932$156,072
7$221,874$48,686$10,428$162,760
8$232,968$52,236$10,949$169,782
9$244,616$55,990$11,497$177,129
10$256,847$60,271$12,072$184,504
11$269,689$64,766$12,675$192,248
12$283,174$69,486$13,309$200,379
13$297,332$74,441$13,975$208,917
14$312,199$79,644$14,673$217,881
15$327,809$85,108$15,407$227,294
16$344,199$90,845$16,177$237,177
17$361,409$96,868$16,986$247,555
18$379,480$103,193$17,836$258,452
19$398,454$109,834$18,727$269,893
20$418,376$116,807$19,664$281,906
21$439,295$124,128$20,647$294,520
22$461,260$131,816$21,679$307,765
23$484,323$139,888$22,763$321,672
24$508,539$148,363$23,901$336,274
25$533,966$157,263$25,096$351,607
26$560,665$166,607$26,351$367,706
27$588,698$176,419$27,669$384,610
28$618,133$186,897$29,052$402,184
29$649,039$198,332$30,505$420,202
30$681,491$210,340$32,030$439,122
Total$11,000,000$2,979,054$516,999$7,503,946

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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.