USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Feb 24, 1998

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The tax information provided here is based on 2025 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 $7,000,000 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, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,133$3,235$83,992
2$110,628$19,398$3,396$87,834
3$116,159$20,725$3,566$91,868
4$121,967$22,119$3,744$96,104
5$128,066$23,583$3,932$100,551
6$134,469$25,120$4,128$105,221
7$141,193$26,733$4,335$110,125
8$148,252$28,428$4,551$115,273
9$155,665$30,207$4,779$120,679
10$163,448$32,075$5,018$126,356
11$171,620$34,036$5,269$132,316
12$180,201$36,095$5,532$138,574
13$189,212$38,258$5,809$145,145
14$198,672$40,638$6,099$151,935
15$208,606$43,817$6,404$158,385
16$219,036$47,155$6,724$165,157
17$229,988$50,659$7,061$172,268
18$241,487$54,339$7,414$179,735
19$253,562$58,294$7,784$187,483
20$266,240$62,731$8,174$195,335
21$279,552$67,390$8,582$203,579
22$293,529$72,282$9,011$212,235
23$308,206$77,419$9,462$221,324
24$323,616$82,813$9,935$230,868
25$339,797$88,476$10,432$240,889
26$356,787$94,423$10,953$251,411
27$374,626$100,666$11,501$262,459
28$393,357$107,222$12,076$274,059
29$413,025$114,106$12,680$286,239
30$433,676$121,334$13,314$299,028
Total$7,000,000$1,638,674$214,900$5,146,427

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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.