USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 1999

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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 $27,000,000 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, Jan 15, 1999
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$43,687$250,091
2$426,708$119,723$45,871$261,114
3$448,044$127,190$48,165$272,689
4$470,446$135,031$50,573$284,842
5$493,968$143,264$53,102$297,603
6$518,666$151,908$55,757$311,002
7$544,600$160,985$58,544$325,071
8$571,830$170,515$61,472$339,843
9$600,421$180,522$64,545$355,354
10$630,442$191,451$67,773$371,218
11$661,964$203,115$71,161$387,689
12$695,063$215,361$74,719$404,982
13$729,816$228,220$78,455$423,141
14$766,307$241,721$82,378$442,207
15$804,622$255,898$86,497$462,227
16$844,853$270,783$90,822$483,248
17$887,096$286,413$95,363$505,320
18$931,450$302,824$100,131$528,495
19$978,023$320,056$105,137$552,829
20$1,026,924$338,150$110,394$578,380
21$1,078,270$357,148$115,914$605,208
22$1,132,184$377,096$121,710$633,378
23$1,188,793$398,041$127,795$662,957
24$1,248,233$420,034$134,185$694,014
25$1,310,644$443,126$140,894$726,624
26$1,376,177$467,373$147,939$760,864
27$1,444,985$492,832$155,336$796,817
28$1,517,235$519,565$163,103$834,567
29$1,593,096$547,633$171,258$874,205
30$1,672,751$577,106$179,821$915,825
Total$27,000,000$8,755,695$2,902,501$15,341,804

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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.