USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 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 $17,000,000 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, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$12,026$183,918
2$268,668$64,409$12,627$191,632
3$282,102$69,110$13,259$199,732
4$296,207$74,047$13,922$208,238
5$311,017$79,231$14,618$217,168
6$326,568$84,673$15,349$226,546
7$342,896$90,388$16,116$236,392
8$360,041$96,389$16,922$246,730
9$378,043$102,690$17,768$257,585
10$396,945$109,306$18,656$268,983
11$416,792$116,252$19,589$280,951
12$437,632$123,546$20,569$293,517
13$459,514$131,205$21,597$306,712
14$482,489$139,246$22,677$320,566
15$506,614$147,690$23,811$335,113
16$531,945$156,555$25,001$350,388
17$558,542$165,864$26,251$366,426
18$586,469$175,639$27,564$383,266
19$615,792$186,031$28,942$400,819
20$646,582$197,423$30,389$418,769
21$678,911$209,385$31,909$437,617
22$712,856$221,945$33,504$457,408
23$748,499$235,132$35,179$478,187
24$785,924$248,980$36,938$500,006
25$825,220$263,519$38,785$522,916
26$866,482$278,786$40,725$546,971
27$909,806$294,816$42,761$572,229
28$955,296$311,647$44,899$598,750
29$1,003,061$329,320$47,144$626,597
30$1,053,214$347,877$49,501$655,836
Total$17,000,000$5,111,032$798,998$11,089,968

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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.