USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Dec 7, 2004

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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 $10,000,000 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 7, 2004
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$4,621$116,728
2$158,040$30,972$4,852$122,216
3$165,942$32,869$5,094$127,979
4$174,239$34,860$5,349$134,030
5$182,951$36,951$5,617$140,384
6$192,099$39,158$5,897$147,043
7$201,704$42,232$6,192$153,280
8$211,789$45,459$6,502$159,828
9$222,378$48,848$6,827$166,704
10$233,497$52,406$7,168$173,923
11$245,172$56,185$7,527$181,460
12$257,431$60,475$7,903$189,052
13$270,302$64,981$8,298$197,023
14$283,817$69,711$8,713$205,393
15$298,008$74,678$9,149$214,182
16$312,909$79,893$9,606$223,410
17$328,554$85,369$10,087$233,099
18$344,982$91,118$10,591$243,272
19$362,231$97,156$11,120$253,955
20$380,342$103,495$11,677$265,171
21$399,359$110,151$12,260$276,949
22$419,327$117,139$12,873$289,315
23$440,294$124,478$13,517$302,299
24$462,308$132,183$14,193$315,933
25$485,424$140,273$14,903$330,248
26$509,695$148,768$15,648$345,279
27$535,180$157,688$16,430$361,062
28$561,939$167,053$17,252$377,634
29$590,036$176,887$18,114$395,034
30$619,537$187,417$19,020$413,101
Total$10,000,000$2,638,019$307,000$7,054,986

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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.