USA Mega

New York Mega Millions Jackpot Annuity Payout Schedule for Feb 5, 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 $5,000,000 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, Feb 5, 1999
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$8,203$55,445
2$79,020$12,437$8,613$57,969
3$82,971$13,307$9,044$60,621
4$87,120$14,219$9,496$63,404
5$91,476$15,178$9,971$66,327
6$96,049$16,184$10,469$69,396
7$100,852$17,247$10,993$72,612
8$105,894$18,457$11,542$75,895
9$111,189$19,728$12,120$79,342
10$116,749$21,062$12,726$82,961
11$122,586$22,463$13,362$86,761
12$128,715$23,934$14,030$90,751
13$135,151$25,479$14,731$94,941
14$141,909$27,101$15,468$99,340
15$149,004$28,803$16,241$103,959
16$156,454$30,592$17,054$108,809
17$164,277$32,469$17,906$113,902
18$172,491$34,440$18,801$119,249
19$181,115$36,510$19,742$124,864
20$190,171$38,684$20,729$130,759
21$199,680$41,584$21,765$136,331
22$209,664$44,779$22,853$142,031
23$220,147$48,133$23,996$148,017
24$231,154$51,656$25,196$154,303
25$242,712$55,354$26,456$160,902
26$254,848$59,571$27,778$167,498
27$267,590$64,031$29,167$174,391
28$280,969$68,714$30,626$181,630
29$295,018$73,631$32,157$189,230
30$309,769$78,794$33,765$197,210
Total$5,000,000$1,046,151$545,000$3,408,850

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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.