USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Sep 29, 1998

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $24,000,000 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, Sep 29, 1998
Jackpot:$24,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,234$96,807$11,090$253,338
2$379,296$103,128$11,644$264,523
3$398,261$109,766$12,227$276,268
4$418,174$116,736$12,838$288,600
5$439,083$124,054$13,480$301,549
6$461,037$131,738$14,154$315,145
7$484,089$139,806$14,862$329,421
8$508,293$148,277$15,605$344,411
9$533,708$157,172$16,385$360,150
10$560,393$166,512$17,204$376,677
11$588,413$176,319$18,064$394,029
12$617,833$186,786$18,967$412,080
13$648,725$198,216$19,916$430,593
14$681,161$210,217$20,912$450,032
15$715,219$222,819$21,957$470,443
16$750,980$236,051$23,055$491,875
17$788,529$249,944$24,208$514,378
18$827,956$264,531$25,418$538,006
19$869,354$279,849$26,689$562,816
20$912,821$295,932$28,024$588,866
21$958,463$312,819$29,425$616,219
22$1,006,386$330,550$30,896$644,939
23$1,056,705$349,169$32,441$675,096
24$1,109,540$368,718$34,063$706,760
25$1,165,017$389,244$35,766$740,007
26$1,223,268$410,797$37,554$774,917
27$1,284,431$433,427$39,432$811,572
28$1,348,653$457,189$41,404$850,060
29$1,416,086$482,139$43,474$890,472
30$1,486,890$508,337$45,648$932,905
Total$24,000,000$7,657,049$736,802$15,606,147

◄ Back to Jackpot Analysis

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.