USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Dec 29, 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 $14,000,000 for a ticket purchased in Pennsylvania, 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:

Pennsylvania

Drawing Date:Tue, Dec 29, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$6,469$159,134
2$221,256$48,488$6,793$165,975
3$232,319$52,029$7,132$173,158
4$243,935$55,752$7,489$180,694
5$256,132$60,021$7,863$188,248
6$268,938$64,503$8,256$196,179
7$282,385$69,210$8,669$204,506
8$296,504$74,151$9,103$213,250
9$311,330$79,340$9,558$222,432
10$326,896$84,788$10,036$232,072
11$343,241$90,509$10,537$242,194
12$360,403$96,516$11,064$252,823
13$378,423$102,823$11,618$263,983
14$397,344$109,445$12,198$275,700
15$417,211$116,399$12,808$288,004
16$438,072$123,700$13,449$300,923
17$459,976$131,366$14,121$314,488
18$482,974$139,416$14,827$328,731
19$507,123$147,868$15,569$343,687
20$532,479$156,742$16,347$359,390
21$559,103$166,061$17,164$375,878
22$587,058$175,845$18,023$393,190
23$616,411$186,260$18,924$411,227
24$647,232$197,664$19,870$429,698
25$679,593$209,637$20,864$449,093
26$713,573$222,210$21,907$469,457
27$749,252$235,411$23,002$490,839
28$786,714$249,272$24,152$513,290
29$826,050$263,826$25,360$536,864
30$867,352$279,108$26,628$561,617
Total$14,000,000$4,033,477$429,800$9,536,724

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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.