USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 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 $19,000,000 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:Tue, Aug 18, 1998
Jackpot:$19,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,977$70,467$30,743$184,768
2$300,276$75,471$32,280$192,525
3$315,290$80,726$33,894$200,670
4$331,054$86,244$35,588$209,222
5$347,607$92,037$37,368$218,202
6$364,988$98,120$39,236$227,631
7$383,237$104,508$41,198$237,531
8$402,399$111,214$43,258$247,927
9$422,519$118,256$45,421$258,842
10$443,645$125,650$47,692$270,302
11$465,827$133,414$50,076$282,336
12$489,118$141,566$52,580$294,972
13$513,574$150,126$55,209$308,239
14$539,253$159,113$57,970$322,170
15$566,215$168,550$60,868$336,797
16$594,526$178,459$63,912$352,156
17$624,253$189,161$67,107$367,984
18$655,465$200,710$70,463$384,293
19$688,238$212,836$73,986$401,417
20$722,650$225,568$77,685$419,397
21$758,783$238,937$81,569$438,276
22$796,722$252,975$85,648$458,099
23$836,558$267,714$89,930$478,914
24$878,386$283,191$94,426$500,769
25$922,305$299,441$99,148$523,717
26$968,421$316,503$104,105$547,812
27$1,016,842$334,419$109,310$573,112
28$1,067,684$353,231$114,776$599,677
29$1,121,068$372,983$120,515$627,570
30$1,177,121$393,723$126,541$656,858
Total$19,000,000$5,835,313$2,042,502$11,122,185

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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.