USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Mar 6, 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 $15,000,000 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, Mar 6, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$10,611$165,227
2$237,060$53,546$11,142$172,373
3$248,913$57,494$11,699$179,720
4$261,359$61,850$12,284$187,225
5$274,427$66,424$12,898$195,105
6$288,148$71,227$13,543$203,379
7$302,555$76,269$14,220$212,066
8$317,683$81,564$14,931$221,188
9$333,567$87,123$15,678$230,766
10$350,246$92,961$16,462$240,823
11$367,758$99,090$17,285$251,383
12$386,146$105,526$18,149$262,471
13$405,453$112,283$19,056$274,114
14$425,726$119,379$20,009$286,338
15$447,012$126,829$21,010$299,174
16$469,363$134,652$22,060$312,651
17$492,831$142,866$23,163$326,802
18$517,472$151,490$24,321$341,661
19$543,346$160,546$25,537$357,263
20$570,513$170,054$26,814$373,645
21$599,039$180,038$28,155$390,846
22$628,991$190,914$29,563$408,514
23$660,441$202,551$31,041$426,849
24$693,463$214,769$32,593$446,101
25$728,136$227,598$34,222$466,315
26$764,543$241,068$35,933$487,541
27$802,770$255,213$37,730$509,827
28$842,908$270,064$39,617$533,228
29$885,054$285,658$41,598$557,798
30$929,306$302,031$43,677$583,598
Total$15,000,000$4,391,010$705,001$9,903,991

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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.