USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 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 $40,000,000 for a ticket purchased in Ohio, 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:

Ohio

Drawing Date:Tue, Jan 26, 1999
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$181,095$21,072$399,891
2$632,160$192,087$22,126$417,948
3$663,768$203,782$23,232$436,754
4$696,957$216,062$24,393$456,501
5$731,805$228,955$25,613$477,236
6$768,395$242,494$26,894$499,007
7$806,815$256,709$28,239$521,867
8$847,155$271,635$29,650$545,870
9$889,513$287,308$31,133$571,072
10$933,989$303,764$32,690$597,535
11$980,688$321,042$34,324$625,322
12$1,029,722$339,185$36,040$654,497
13$1,081,209$358,235$37,842$685,131
14$1,135,269$378,237$39,734$717,297
15$1,192,032$399,240$41,721$751,072
16$1,251,634$421,292$43,807$786,535
17$1,314,216$444,448$45,998$823,771
18$1,379,927$468,761$48,297$862,869
19$1,448,923$494,289$50,712$903,921
20$1,521,369$521,094$53,248$947,027
21$1,597,438$549,240$55,910$992,288
22$1,677,309$578,792$58,706$1,039,811
23$1,761,175$609,822$61,641$1,089,711
24$1,849,234$642,404$64,723$1,142,106
25$1,941,695$676,615$67,959$1,197,121
26$2,038,780$712,536$71,357$1,254,886
27$2,140,719$750,254$74,925$1,315,540
28$2,247,755$789,857$78,671$1,379,226
29$2,360,143$831,441$82,605$1,446,097
30$2,478,150$875,103$86,735$1,516,311
Total$40,000,000$13,545,778$1,399,997$25,054,220

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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.