USA Mega

Texas Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 1999

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The tax information provided here is based on 2025 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 $40,000,000 for a ticket purchased in Texas, 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:

Texas

Drawing Date:Tue, Jan 26, 1999
Jackpot:$40,000,000
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$602,057$180,267$0$421,790
2$632,160$190,920$0$441,241
3$663,768$202,615$0$461,154
4$696,957$214,894$0$482,062
5$731,805$227,788$0$504,017
6$768,395$241,326$0$527,068
7$806,815$255,542$0$551,273
8$847,155$270,468$0$576,688
9$889,513$286,140$0$603,373
10$933,989$302,596$0$631,393
11$980,688$319,875$0$660,813
12$1,029,722$338,018$0$691,705
13$1,081,209$357,067$0$724,141
14$1,135,269$377,070$0$758,199
15$1,192,032$398,072$0$793,960
16$1,251,634$420,125$0$831,509
17$1,314,216$443,280$0$870,936
18$1,379,927$467,593$0$912,334
19$1,448,923$493,122$0$955,801
20$1,521,369$519,927$0$1,001,442
21$1,597,438$548,072$0$1,049,365
22$1,677,309$577,625$0$1,099,685
23$1,761,175$608,655$0$1,152,520
24$1,849,234$641,237$0$1,207,997
25$1,941,695$675,448$0$1,266,248
26$2,038,780$711,369$0$1,327,411
27$2,140,719$749,086$0$1,391,633
28$2,247,755$788,690$0$1,459,065
29$2,360,143$830,273$0$1,529,870
30$2,478,150$873,936$0$1,604,214
Total$40,000,000$13,511,096$0$26,488,907

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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.