USA Mega

Montana Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 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 $25,000,000 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, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$22,201$252,010
2$395,100$108,660$23,311$263,129
3$414,855$115,574$24,476$274,805
4$435,598$122,834$25,700$287,064
5$457,378$130,457$26,985$299,936
6$480,247$138,461$28,335$313,451
7$504,259$146,865$29,751$327,642
8$529,472$155,690$31,239$342,543
9$555,946$164,956$32,801$358,189
10$583,743$174,685$34,441$374,617
11$612,930$184,972$36,163$391,795
12$643,577$196,311$37,971$409,294
13$675,755$208,217$39,870$427,669
14$709,543$220,719$41,863$446,961
15$745,020$233,845$43,956$467,219
16$782,271$247,628$46,154$488,489
17$821,385$262,100$48,462$510,823
18$862,454$277,296$50,885$534,274
19$905,577$293,251$53,429$558,897
20$950,856$310,004$56,100$584,751
21$998,398$327,595$58,906$611,898
22$1,048,318$346,066$61,851$640,402
23$1,100,734$365,459$64,943$670,332
24$1,155,771$385,823$68,190$701,757
25$1,213,560$407,205$71,600$734,755
26$1,274,238$429,656$75,180$769,402
27$1,337,949$453,229$78,939$805,781
28$1,404,847$477,981$82,886$843,980
29$1,475,089$503,971$87,030$884,088
30$1,548,844$531,260$91,382$926,202
Total$25,000,000$8,022,845$1,475,000$15,502,155

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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.