USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Dec 29, 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 $14,000,000 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, Dec 29, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$22,968$142,635
2$221,256$48,488$24,117$148,651
3$232,319$52,029$25,323$154,968
4$243,935$55,752$26,589$161,594
5$256,132$60,021$27,918$168,192
6$268,938$64,503$29,314$175,121
7$282,385$69,210$30,780$182,396
8$296,504$74,151$32,319$190,034
9$311,330$79,340$33,935$198,055
10$326,896$84,788$35,632$206,476
11$343,241$90,509$37,413$215,319
12$360,403$96,516$39,284$224,603
13$378,423$102,823$41,248$234,352
14$397,344$109,445$43,311$244,588
15$417,211$116,399$45,476$255,337
16$438,072$123,700$47,750$266,622
17$459,976$131,366$50,137$278,472
18$482,974$139,416$52,644$290,914
19$507,123$147,868$55,276$303,979
20$532,479$156,742$58,040$317,696
21$559,103$166,061$60,942$332,100
22$587,058$175,845$63,989$347,224
23$616,411$186,260$67,189$362,962
24$647,232$197,664$70,548$379,020
25$679,593$209,637$74,076$395,880
26$713,573$222,210$77,779$413,584
27$749,252$235,411$81,668$432,172
28$786,714$249,272$85,752$451,690
29$826,050$263,826$90,039$472,184
30$867,352$279,108$94,541$493,703
Total$14,000,000$4,033,477$1,525,997$8,440,523

◄ 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.