USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Feb 9, 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 $7,000,000 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, Feb 9, 1999
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,329$11,326$75,705
2$110,628$19,593$11,893$79,142
3$116,159$20,921$12,487$82,752
4$121,967$22,315$13,111$86,541
5$128,066$23,778$13,767$90,520
6$134,469$25,315$14,455$94,699
7$141,193$26,929$15,178$99,086
8$148,252$28,623$15,937$103,692
9$155,665$30,402$16,734$108,529
10$163,448$32,270$17,571$113,607
11$171,620$34,231$18,449$118,940
12$180,201$36,291$19,372$124,539
13$189,212$38,453$20,340$130,418
14$198,672$41,262$21,357$136,053
15$208,606$44,440$22,425$141,740
16$219,036$47,778$23,546$147,712
17$229,988$51,283$24,724$153,981
18$241,487$54,962$25,960$160,565
19$253,562$59,121$27,258$167,182
20$266,240$63,559$28,621$174,060
21$279,552$68,218$30,052$181,282
22$293,529$73,110$31,554$188,865
23$308,206$78,247$33,132$196,827
24$323,616$83,640$34,789$205,187
25$339,797$89,304$36,528$213,965
26$356,787$95,250$38,355$223,182
27$374,626$101,494$40,272$232,860
28$393,357$108,050$42,286$243,021
29$413,025$114,933$44,400$253,691
30$433,676$122,161$46,620$264,895
Total$7,000,000$1,654,262$752,499$4,593,238

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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.