USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jan 22, 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 $35,000,000 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, Jan 22, 1999
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$526,800$154,755$57,421$314,624
2$553,140$163,974$60,292$328,874
3$580,797$173,654$63,307$343,837
4$609,837$183,827$66,472$359,537
5$640,329$195,109$69,796$375,424
6$672,345$206,956$73,286$392,104
7$705,963$219,394$76,950$409,619
8$741,261$232,454$80,797$428,009
9$778,324$246,168$84,837$447,319
10$817,240$260,567$89,079$467,594
11$858,102$275,686$93,533$488,883
12$901,007$291,560$98,210$511,237
13$946,058$308,229$103,120$534,708
14$993,360$325,731$108,276$559,353
15$1,043,028$344,108$113,690$585,230
16$1,095,180$363,404$119,375$612,401
17$1,149,939$383,665$125,343$640,930
18$1,207,436$404,939$131,610$670,886
19$1,267,808$427,277$138,191$702,340
20$1,331,198$450,731$145,101$735,366
21$1,397,758$475,358$152,356$770,044
22$1,467,646$501,217$159,973$806,456
23$1,541,028$528,368$167,972$844,688
24$1,618,079$556,877$176,371$884,832
25$1,698,983$586,812$185,189$926,983
26$1,783,933$618,243$194,449$971,241
27$1,873,129$651,246$204,171$1,017,713
28$1,966,786$685,898$214,380$1,066,508
29$2,065,125$722,284$225,099$1,117,742
30$2,168,381$760,489$236,354$1,171,539
Total$35,000,000$11,698,980$3,815,000$19,486,021

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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.