USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 1999

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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 $40,000,000 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, Jan 26, 1999
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$181,095$28,297$392,666
2$632,160$192,087$29,712$410,362
3$663,768$203,782$31,197$428,789
4$696,957$216,062$32,757$448,138
5$731,805$228,955$34,395$468,454
6$768,395$242,494$36,115$489,786
7$806,815$256,709$37,920$512,185
8$847,155$271,635$39,816$535,704
9$889,513$287,308$41,807$560,398
10$933,989$303,764$43,897$586,328
11$980,688$321,042$46,092$613,553
12$1,029,722$339,185$48,397$642,140
13$1,081,209$358,235$50,817$672,157
14$1,135,269$378,237$53,358$703,674
15$1,192,032$399,240$56,026$736,767
16$1,251,634$421,292$58,827$771,515
17$1,314,216$444,448$61,768$808,000
18$1,379,927$468,761$64,857$846,309
19$1,448,923$494,289$68,099$886,534
20$1,521,369$521,094$71,504$928,770
21$1,597,438$549,240$75,080$973,118
22$1,677,309$578,792$78,834$1,019,684
23$1,761,175$609,822$82,775$1,068,577
24$1,849,234$642,404$86,914$1,119,915
25$1,941,695$676,615$91,260$1,173,821
26$2,038,780$712,536$95,823$1,230,421
27$2,140,719$750,254$100,614$1,289,851
28$2,247,755$789,857$105,644$1,352,253
29$2,360,143$831,441$110,927$1,417,775
30$2,478,150$875,103$116,473$1,486,574
Total$40,000,000$13,545,778$1,880,002$24,574,218

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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.