USA Mega

Montana Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 1997

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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 $16,000,000 for a ticket purchased in Montana, 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:

Montana

Drawing Date:Fri, Jun 13, 1997
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$14,209$171,865
2$252,864$58,877$14,919$179,068
3$265,507$63,302$15,665$186,540
4$278,783$67,949$16,448$194,386
5$292,722$72,827$17,271$202,624
6$307,358$77,950$18,134$211,274
7$322,726$83,329$19,041$220,356
8$338,862$88,976$19,993$229,893
9$355,805$94,907$20,993$239,906
10$373,595$101,133$22,042$250,420
11$392,275$107,671$23,144$261,460
12$411,889$114,536$24,301$273,052
13$432,483$121,744$25,517$285,223
14$454,108$129,312$26,792$298,003
15$476,813$137,259$28,132$311,422
16$500,654$145,604$29,539$325,512
17$525,686$154,365$31,015$340,306
18$551,971$163,564$32,566$355,840
19$579,569$173,224$34,195$372,151
20$608,548$183,366$35,904$389,277
21$638,975$194,609$37,700$406,667
22$670,924$206,430$39,585$424,910
23$704,470$218,842$41,564$444,065
24$739,693$231,874$43,642$464,177
25$776,678$245,559$45,824$485,295
26$815,512$259,927$48,115$507,470
27$856,288$275,014$50,521$530,752
28$899,102$290,855$53,047$555,199
29$944,057$307,489$55,699$580,869
30$991,260$324,954$58,484$607,822
Total$16,000,000$4,750,198$944,001$10,305,804

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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.