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Tennessee Mega Millions Jackpot Annuity Payout Schedule for Nov 14, 1997

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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 $11,000,000 for a ticket purchased in Tennessee, 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:

Tennessee

Drawing Date:Fri, Nov 14, 1997
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$0$132,787
2$173,844$34,765$0$139,079
3$182,536$36,851$0$145,685
4$191,663$39,042$0$152,621
5$201,246$42,085$0$159,161
6$211,309$45,305$0$166,003
7$221,874$48,686$0$173,188
8$232,968$52,236$0$180,732
9$244,616$55,990$0$188,626
10$256,847$60,271$0$196,576
11$269,689$64,766$0$204,923
12$283,174$69,486$0$213,688
13$297,332$74,441$0$222,891
14$312,199$79,644$0$232,555
15$327,809$85,108$0$242,701
16$344,199$90,845$0$253,355
17$361,409$96,868$0$264,541
18$379,480$103,193$0$276,287
19$398,454$109,834$0$288,620
20$418,376$116,807$0$301,570
21$439,295$124,128$0$315,167
22$461,260$131,816$0$329,444
23$484,323$139,888$0$344,435
24$508,539$148,363$0$360,176
25$533,966$157,263$0$376,703
26$560,665$166,607$0$394,057
27$588,698$176,419$0$412,279
28$618,133$186,897$0$431,236
29$649,039$198,332$0$450,707
30$681,491$210,340$0$471,152
Total$11,000,000$2,979,054$0$8,020,945

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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.