USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jul 4, 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 $11,000,000 for a ticket purchased in New Jersey, 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:

New Jersey

Drawing Date:Fri, Jul 4, 1997
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$17,798$114,989
2$173,844$34,765$18,688$120,391
3$182,536$36,851$19,623$126,062
4$191,663$39,042$20,604$132,018
5$201,246$42,085$21,634$137,527
6$211,309$45,305$22,716$143,288
7$221,874$48,686$23,851$149,336
8$232,968$52,236$25,044$155,688
9$244,616$55,990$26,296$162,329
10$256,847$60,271$27,611$168,965
11$269,689$64,766$28,992$175,932
12$283,174$69,486$30,441$183,247
13$297,332$74,441$31,963$190,928
14$312,199$79,644$33,561$198,993
15$327,809$85,108$35,239$207,462
16$344,199$90,845$37,001$216,353
17$361,409$96,868$38,852$225,690
18$379,480$103,193$40,794$235,493
19$398,454$109,834$42,834$245,786
20$418,376$116,807$44,975$256,594
21$439,295$124,128$47,224$267,943
22$461,260$131,816$49,585$279,859
23$484,323$139,888$52,065$292,371
24$508,539$148,363$54,668$305,508
25$533,966$157,263$57,401$319,302
26$560,665$166,607$60,271$333,786
27$588,698$176,419$63,285$348,994
28$618,133$186,897$66,449$364,787
29$649,039$198,332$69,772$380,935
30$681,491$210,340$73,260$397,891
Total$11,000,000$2,979,054$1,182,497$6,838,447

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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.