USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Dec 7, 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 $10,000,000 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, Dec 7, 2004
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$7,074$114,274
2$158,040$30,972$7,428$119,640
3$165,942$32,869$7,799$125,274
4$174,239$34,860$8,189$131,190
5$182,951$36,951$8,599$137,402
6$192,099$39,158$9,029$143,912
7$201,704$42,232$9,480$149,992
8$211,789$45,459$9,954$156,376
9$222,378$48,848$10,452$163,079
10$233,497$52,406$10,974$170,117
11$245,172$56,185$11,523$177,464
12$257,431$60,475$12,099$184,856
13$270,302$64,981$12,704$192,617
14$283,817$69,711$13,339$200,767
15$298,008$74,678$14,006$209,324
16$312,909$79,893$14,707$218,309
17$328,554$85,369$15,442$227,743
18$344,982$91,118$16,214$237,649
19$362,231$97,156$17,025$248,050
20$380,342$103,495$17,876$258,972
21$399,359$110,151$18,770$270,439
22$419,327$117,139$19,708$282,480
23$440,294$124,478$20,694$295,122
24$462,308$132,183$21,728$308,397
25$485,424$140,273$22,815$322,336
26$509,695$148,768$23,956$336,971
27$535,180$157,688$25,153$352,339
28$561,939$167,053$26,411$368,474
29$590,036$176,887$27,732$385,417
30$619,537$187,417$29,118$403,003
Total$10,000,000$2,638,019$469,998$6,891,985

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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.