USA Mega

Washington Mega Millions Jackpot Annuity Payout Schedule for Sep 29, 1998

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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 $24,000,000 for a ticket purchased in Washington, 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:

Washington

Drawing Date:Tue, Sep 29, 1998
Jackpot:$24,000,000
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$361,234$96,807$0$264,428
2$379,296$103,128$0$276,168
3$398,261$109,766$0$288,495
4$418,174$116,736$0$301,438
5$439,083$124,054$0$315,029
6$461,037$131,738$0$329,299
7$484,089$139,806$0$344,283
8$508,293$148,277$0$360,016
9$533,708$157,172$0$376,535
10$560,393$166,512$0$393,881
11$588,413$176,319$0$412,094
12$617,833$186,786$0$431,047
13$648,725$198,216$0$450,509
14$681,161$210,217$0$470,944
15$715,219$222,819$0$492,401
16$750,980$236,051$0$514,930
17$788,529$249,944$0$538,586
18$827,956$264,531$0$563,425
19$869,354$279,849$0$589,505
20$912,821$295,932$0$616,890
21$958,463$312,819$0$645,644
22$1,006,386$330,550$0$675,835
23$1,056,705$349,169$0$707,536
24$1,109,540$368,718$0$740,823
25$1,165,017$389,244$0$775,773
26$1,223,268$410,797$0$812,471
27$1,284,431$433,427$0$851,004
28$1,348,653$457,189$0$891,464
29$1,416,086$482,139$0$933,946
30$1,486,890$508,337$0$978,553
Total$24,000,000$7,657,049$0$16,342,952

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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.