USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Feb 20, 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 $5,000,000 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:Fri, Feb 20, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$2,310$61,337
2$79,020$12,437$2,426$64,157
3$82,971$13,307$2,547$67,117
4$87,120$14,219$2,675$70,226
5$91,476$15,178$2,808$73,490
6$96,049$16,184$2,949$76,917
7$100,852$17,247$3,096$80,509
8$105,894$18,457$3,251$84,186
9$111,189$19,728$3,414$88,048
10$116,749$21,062$3,584$92,102
11$122,586$22,463$3,763$96,359
12$128,715$23,934$3,952$100,830
13$135,151$25,479$4,149$105,523
14$141,909$27,101$4,357$110,451
15$149,004$28,803$4,574$115,626
16$156,454$30,592$4,803$121,060
17$164,277$32,469$5,043$126,765
18$172,491$34,440$5,295$132,755
19$181,115$36,510$5,560$139,045
20$190,171$38,684$5,838$145,649
21$199,680$41,584$6,130$151,966
22$209,664$44,779$6,437$158,448
23$220,147$48,133$6,759$165,255
24$231,154$51,656$7,096$172,402
25$242,712$55,354$7,451$179,906
26$254,848$59,571$7,824$187,452
27$267,590$64,031$8,215$195,344
28$280,969$68,714$8,626$203,630
29$295,018$73,631$9,057$212,330
30$309,769$78,794$9,510$221,465
Total$5,000,000$1,046,151$153,499$3,800,350

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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.