USA Mega

Tennessee Mega Millions Jackpot Annuity Payout Schedule for Jan 5, 1999

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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 $18,000,000 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:Tue, Jan 5, 1999
Jackpot:$18,000,000
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$270,926$65,199$0$205,727
2$284,472$69,940$0$214,532
3$298,696$74,918$0$223,777
4$313,631$80,145$0$233,485
5$329,312$85,634$0$243,678
6$345,778$91,397$0$254,381
7$363,067$97,448$0$265,618
8$381,220$103,802$0$277,418
9$400,281$110,473$0$289,808
10$420,295$117,478$0$302,817
11$441,310$124,833$0$316,477
12$463,375$132,556$0$330,819
13$486,544$140,665$0$345,879
14$510,871$149,180$0$361,691
15$536,415$158,120$0$378,295
16$563,235$167,507$0$395,728
17$591,397$177,364$0$414,033
18$620,967$187,946$0$433,021
19$652,015$199,433$0$452,582
20$684,616$211,496$0$473,120
21$718,847$224,161$0$494,686
22$754,789$237,460$0$517,329
23$792,529$251,423$0$541,105
24$832,155$266,085$0$566,070
25$873,763$281,480$0$592,283
26$917,451$297,645$0$619,806
27$963,324$314,617$0$648,706
28$1,011,490$332,439$0$679,051
29$1,062,064$351,152$0$710,913
30$1,115,167$370,800$0$744,368
Total$18,000,000$5,472,796$0$12,527,203

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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.