USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 1999

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $20,000,000 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 8, 1999
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$32,361$192,933
2$316,080$81,003$33,979$201,099
3$331,884$86,534$35,678$209,672
4$348,478$92,342$37,461$218,675
5$365,902$98,441$39,334$228,127
6$384,197$104,844$41,301$238,052
7$403,407$111,567$43,366$248,474
8$423,578$118,627$45,535$259,416
9$444,757$126,040$47,811$270,906
10$466,994$133,823$50,202$282,970
11$490,344$141,995$52,712$295,637
12$514,861$150,576$55,348$308,937
13$540,604$159,586$58,115$322,903
14$567,635$169,047$61,021$337,567
15$596,016$178,980$64,072$352,964
16$625,817$189,740$67,275$368,802
17$657,108$201,318$70,639$385,151
18$689,963$213,474$74,171$402,318
19$724,461$226,238$77,880$420,343
20$760,685$239,641$81,774$439,270
21$798,719$253,714$85,862$459,143
22$838,655$268,490$90,155$480,009
23$880,587$284,005$94,663$501,919
24$924,617$300,296$99,396$524,925
25$970,848$317,401$104,366$549,080
26$1,019,390$335,362$109,584$574,444
27$1,070,360$354,221$115,064$601,075
28$1,123,878$374,022$120,817$629,038
29$1,180,071$394,814$126,858$658,400
30$1,239,075$416,645$133,201$689,229
Total$20,000,000$6,198,521$2,150,001$11,651,478

◄ Back to Jackpot Analysis

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.