USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Nov 24, 1998

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 $27,000,000 for a ticket purchased in New York, 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 York

Drawing Date:Tue, Nov 24, 1998
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$44,296$249,482
2$426,708$119,723$46,511$260,474
3$448,044$127,190$48,837$272,017
4$470,446$135,031$51,279$284,136
5$493,968$143,264$53,843$296,862
6$518,666$151,908$56,535$310,224
7$544,600$160,985$59,361$324,254
8$571,830$170,515$62,329$338,985
9$600,421$180,522$65,446$354,453
10$630,442$191,451$68,718$370,273
11$661,964$203,115$72,154$386,696
12$695,063$215,361$75,762$403,940
13$729,816$228,220$79,550$422,046
14$766,307$241,721$83,527$441,058
15$804,622$255,898$87,704$461,020
16$844,853$270,783$92,089$481,981
17$887,096$286,413$96,693$503,989
18$931,450$302,824$101,528$527,098
19$978,023$320,056$106,605$551,362
20$1,026,924$338,150$111,935$576,840
21$1,078,270$357,148$117,531$603,591
22$1,132,184$377,096$123,408$631,680
23$1,188,793$398,041$129,578$661,173
24$1,248,233$420,034$136,057$692,141
25$1,310,644$443,126$142,860$724,658
26$1,376,177$467,373$150,003$758,800
27$1,444,985$492,832$157,503$794,650
28$1,517,235$519,565$165,379$832,291
29$1,593,096$547,633$173,648$871,815
30$1,672,751$577,106$182,330$913,316
Total$27,000,000$8,755,695$2,942,999$15,301,305

◄ 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.