USA Mega

Tennessee Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
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$842,880$270,053$0$572,827
2$885,024$285,647$0$599,378
3$929,276$302,020$0$627,256
4$975,739$319,211$0$656,528
5$1,024,526$337,262$0$687,264
6$1,075,753$356,216$0$719,536
7$1,129,540$376,118$0$753,423
8$1,186,017$397,014$0$789,003
9$1,245,318$418,955$0$826,363
10$1,307,584$441,994$0$865,590
11$1,372,963$466,184$0$906,779
12$1,441,611$491,584$0$950,027
13$1,513,692$518,254$0$995,438
14$1,589,377$546,257$0$1,043,120
15$1,668,845$575,661$0$1,093,185
16$1,752,288$606,534$0$1,145,754
17$1,839,902$638,952$0$1,200,951
18$1,931,897$672,990$0$1,258,908
19$2,028,492$708,730$0$1,319,762
20$2,129,917$746,257$0$1,383,660
21$2,236,413$785,660$0$1,450,752
22$2,348,233$827,034$0$1,521,199
23$2,465,645$870,476$0$1,595,168
24$2,588,927$916,091$0$1,672,836
25$2,718,373$963,986$0$1,754,387
26$2,854,292$1,014,276$0$1,840,016
27$2,997,007$1,067,080$0$1,929,926
28$3,146,857$1,122,525$0$2,024,332
29$3,304,200$1,180,742$0$2,123,458
30$3,469,410$1,241,869$0$2,227,540
Total$56,000,000$19,465,632$0$36,534,366

◄ 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.