USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jul 17, 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 $9,000,000 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:Fri, Jul 17, 1998
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$14,765$95,144
2$142,236$27,179$15,504$99,553
3$149,348$28,886$16,279$104,183
4$156,815$30,678$17,093$109,044
5$164,656$32,560$17,948$114,149
6$172,889$34,536$18,845$119,508
7$181,533$36,610$19,787$125,136
8$190,610$38,789$20,776$131,045
9$200,140$41,731$21,815$136,594
10$210,147$44,934$22,906$142,308
11$220,655$48,296$24,051$148,307
12$231,688$51,827$25,254$154,607
13$243,272$55,534$26,517$161,222
14$255,436$59,777$27,842$167,816
15$268,207$64,247$29,235$174,725
16$281,618$68,941$30,696$181,980
17$295,699$73,869$32,231$189,598
18$310,483$79,044$33,843$197,597
19$326,008$84,477$35,535$205,995
20$342,308$90,183$37,312$214,814
21$359,423$96,173$39,177$224,073
22$377,395$102,463$41,136$233,796
23$396,264$109,067$43,193$244,004
24$416,078$116,002$45,352$254,723
25$436,881$123,283$47,620$265,978
26$458,726$130,929$50,001$277,796
27$481,662$138,956$52,501$290,204
28$505,745$147,385$55,126$303,233
29$531,032$156,236$57,883$316,914
30$557,584$165,529$60,777$331,278
Total$9,000,000$2,303,675$981,000$5,715,324

◄ 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.