USA Mega

Tennessee Mega Millions Jackpot Annuity Payout Schedule for Jul 10, 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 $5,000,000 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, Jul 10, 1998
Jackpot:$5,000,000
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$75,257$11,610$0$63,648
2$79,020$12,437$0$66,583
3$82,971$13,307$0$69,664
4$87,120$14,219$0$72,900
5$91,476$15,178$0$76,298
6$96,049$16,184$0$79,865
7$100,852$17,247$0$83,605
8$105,894$18,457$0$87,437
9$111,189$19,728$0$91,461
10$116,749$21,062$0$95,686
11$122,586$22,463$0$100,123
12$128,715$23,934$0$104,781
13$135,151$25,479$0$109,672
14$141,909$27,101$0$114,808
15$149,004$28,803$0$120,201
16$156,454$30,592$0$125,863
17$164,277$32,469$0$131,808
18$172,491$34,440$0$138,051
19$181,115$36,510$0$144,605
20$190,171$38,684$0$151,488
21$199,680$41,584$0$158,096
22$209,664$44,779$0$164,885
23$220,147$48,133$0$172,013
24$231,154$51,656$0$179,498
25$242,712$55,354$0$187,358
26$254,848$59,571$0$195,276
27$267,590$64,031$0$203,559
28$280,969$68,714$0$212,255
29$295,018$73,631$0$221,387
30$309,769$78,794$0$230,975
Total$5,000,000$1,046,151$0$3,953,849

◄ 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.