USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 1999

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 $40,000,000 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, Jan 26, 1999
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$181,095$65,624$355,338
2$632,160$192,087$68,905$371,168
3$663,768$203,782$72,351$387,636
4$696,957$216,062$75,968$404,927
5$731,805$228,955$79,767$423,082
6$768,395$242,494$83,755$442,146
7$806,815$256,709$87,943$462,163
8$847,155$271,635$92,340$483,180
9$889,513$287,308$96,957$505,249
10$933,989$303,764$101,805$528,420
11$980,688$321,042$106,895$552,751
12$1,029,722$339,185$112,240$578,298
13$1,081,209$358,235$117,852$605,122
14$1,135,269$378,237$123,744$633,287
15$1,192,032$399,240$129,932$662,861
16$1,251,634$421,292$136,428$693,914
17$1,314,216$444,448$143,250$726,519
18$1,379,927$468,761$150,412$760,754
19$1,448,923$494,289$157,933$796,701
20$1,521,369$521,094$165,829$834,446
21$1,597,438$549,240$174,121$874,077
22$1,677,309$578,792$182,827$915,690
23$1,761,175$609,822$191,968$959,384
24$1,849,234$642,404$201,566$1,005,263
25$1,941,695$676,615$211,645$1,053,435
26$2,038,780$712,536$222,227$1,104,017
27$2,140,719$750,254$233,338$1,157,127
28$2,247,755$789,857$245,005$1,212,893
29$2,360,143$831,441$257,256$1,271,447
30$2,478,150$875,103$270,118$1,332,928
Total$40,000,000$13,545,778$4,360,001$22,094,223

◄ 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.