USA Mega

Virginia Mega Millions Jackpot Annuity Payout Schedule for Mar 6, 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 $15,000,000 for a ticket purchased in Virginia, 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:

Virginia

Drawing Date:Fri, Mar 6, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$12,982$162,856
2$237,060$53,546$13,631$169,883
3$248,913$57,494$14,313$177,106
4$261,359$61,850$15,028$184,480
5$274,427$66,424$15,780$192,223
6$288,148$71,227$16,569$200,353
7$302,555$76,269$17,397$208,889
8$317,683$81,564$18,267$217,853
9$333,567$87,123$19,180$227,264
10$350,246$92,961$20,139$237,146
11$367,758$99,090$21,146$247,522
12$386,146$105,526$22,203$258,417
13$405,453$112,283$23,314$269,856
14$425,726$119,379$24,479$281,868
15$447,012$126,829$25,703$294,480
16$469,363$134,652$26,988$307,723
17$492,831$142,866$28,338$321,628
18$517,472$151,490$29,755$336,228
19$543,346$160,546$31,242$351,558
20$570,513$170,054$32,805$367,654
21$599,039$180,038$34,445$384,556
22$628,991$190,914$36,167$401,910
23$660,441$202,551$37,975$419,914
24$693,463$214,769$39,874$438,820
25$728,136$227,598$41,868$458,670
26$764,543$241,068$43,961$479,513
27$802,770$255,213$46,159$501,398
28$842,908$270,064$48,467$524,377
29$885,054$285,658$50,891$548,505
30$929,306$302,031$53,435$573,840
Total$15,000,000$4,391,010$862,501$9,746,490

◄ 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.