USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Aug 21, 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 $22,000,000 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, Aug 21, 1998
Jackpot:$22,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$86,271$15,563$229,298
2$347,688$92,066$16,341$239,281
3$365,073$98,150$17,158$249,764
4$383,326$104,539$18,016$260,771
5$402,492$111,247$18,917$272,328
6$422,617$118,291$19,863$284,463
7$443,748$125,687$20,856$297,205
8$465,935$133,452$21,899$310,584
9$489,232$141,606$22,994$324,632
10$513,694$150,168$24,144$339,383
11$539,378$159,157$25,351$354,870
12$566,347$168,596$26,618$371,133
13$594,665$178,507$27,949$388,208
14$624,398$189,215$29,347$405,836
15$655,618$200,766$30,814$424,037
16$688,399$212,895$32,355$443,149
17$722,819$225,631$33,972$463,216
18$758,960$239,003$35,671$484,286
19$796,908$253,044$37,455$506,409
20$836,753$267,786$39,327$529,639
21$878,591$283,266$41,294$554,031
22$922,520$299,520$43,358$579,642
23$968,646$316,587$45,526$606,533
24$1,017,078$334,507$47,803$634,769
25$1,067,932$353,323$50,193$664,417
26$1,121,329$373,079$52,702$695,547
27$1,177,395$393,824$55,338$728,234
28$1,236,265$415,606$58,104$762,555
29$1,298,079$438,477$61,010$798,592
30$1,362,982$462,491$64,060$836,431
Total$22,000,000$6,926,757$1,033,998$14,039,243

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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.