USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $12,000,000 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 8, 1998
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$5,545$138,682
2$189,648$38,558$5,822$145,268
3$199,130$41,408$6,113$151,609
4$209,087$44,594$6,419$158,074
5$219,541$47,940$6,740$164,862
6$230,518$51,452$7,077$171,989
7$242,044$55,141$7,431$179,473
8$254,147$59,326$7,802$187,018
9$266,854$63,774$8,192$194,888
10$280,197$68,444$8,602$203,151
11$294,206$73,347$9,032$211,827
12$308,917$78,496$9,484$220,937
13$324,363$83,902$9,958$230,503
14$340,581$89,578$10,456$240,547
15$357,610$95,538$10,979$251,093
16$375,490$101,796$11,528$262,166
17$394,265$108,367$12,104$273,793
18$413,978$115,267$12,709$286,002
19$434,677$122,512$13,345$298,821
20$456,411$130,119$14,012$312,280
21$479,231$138,106$14,712$326,413
22$503,193$146,492$15,448$341,253
23$528,352$155,298$16,220$356,834
24$554,770$164,544$17,031$373,194
25$582,509$174,253$17,883$390,373
26$611,634$184,492$18,777$408,365
27$642,216$195,808$19,716$426,692
28$674,327$207,689$20,702$445,936
29$708,043$220,164$21,737$466,142
30$743,445$233,262$22,824$487,359
Total$12,000,000$3,326,058$368,400$8,305,544

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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.