USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 1998

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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 $19,000,000 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, Aug 18, 1998
Jackpot:$19,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,977$70,467$31,172$184,339
2$300,276$75,471$32,730$192,075
3$315,290$80,726$34,367$200,197
4$331,054$86,244$36,085$208,726
5$347,607$92,037$37,889$217,681
6$364,988$98,120$39,784$227,083
7$383,237$104,508$41,773$236,956
8$402,399$111,214$43,861$247,323
9$422,519$118,256$46,055$258,208
10$443,645$125,650$48,357$269,637
11$465,827$133,414$50,775$281,638
12$489,118$141,566$53,314$294,238
13$513,574$150,126$55,980$307,469
14$539,253$159,113$58,779$321,361
15$566,215$168,550$61,717$335,948
16$594,526$178,459$64,803$351,264
17$624,253$189,161$68,044$367,048
18$655,465$200,710$71,446$383,310
19$688,238$212,836$75,018$400,384
20$722,650$225,568$78,769$418,313
21$758,783$238,937$82,707$437,138
22$796,722$252,975$86,843$456,904
23$836,558$267,714$91,185$477,659
24$878,386$283,191$95,744$499,451
25$922,305$299,441$100,531$522,333
26$968,421$316,503$105,558$546,359
27$1,016,842$334,419$110,836$571,587
28$1,067,684$353,231$116,378$598,075
29$1,121,068$372,983$122,196$625,889
30$1,177,121$393,723$128,306$655,092
Total$19,000,000$5,835,313$2,071,002$11,093,685

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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.