USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Dec 10, 2004

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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 $12,000,000 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, Dec 10, 2004
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$8,489$135,738
2$189,648$38,558$8,913$142,177
3$199,130$41,408$9,359$148,363
4$209,087$44,594$9,827$154,666
5$219,541$47,940$10,318$161,283
6$230,518$51,452$10,834$168,232
7$242,044$55,141$11,376$175,528
8$254,147$59,326$11,945$182,876
9$266,854$63,774$12,542$190,538
10$280,197$68,444$13,169$198,584
11$294,206$73,347$13,828$207,032
12$308,917$78,496$14,519$215,902
13$324,363$83,902$15,245$225,216
14$340,581$89,578$16,007$234,995
15$357,610$95,538$16,808$245,264
16$375,490$101,796$17,648$256,046
17$394,265$108,367$18,530$267,367
18$413,978$115,267$19,457$279,254
19$434,677$122,512$20,430$291,735
20$456,411$130,119$21,451$304,841
21$479,231$138,106$22,524$318,602
22$503,193$146,492$23,650$333,051
23$528,352$155,298$24,833$348,222
24$554,770$164,544$26,074$364,152
25$582,509$174,253$27,378$380,878
26$611,634$184,492$28,747$398,395
27$642,216$195,808$30,184$416,224
28$674,327$207,689$31,693$434,945
29$708,043$220,164$33,278$454,601
30$743,445$233,262$34,942$475,241
Total$12,000,000$3,326,058$563,998$8,109,948

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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.