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Mega Millions Annuity Jackpot Analysis for North Carolina

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $77,000,000 would be for a resident of North Carolina, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

North Carolina

Drawing Date:  Tue, Jul 29, 2014
Jackpot:$77,000,000
Federal Tax:  25%
State Tax:5.80%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,158,960$289,740$67,220$802,001
2$1,216,909$304,227$70,581$842,101
3$1,277,754$319,438$74,110$884,206
4$1,341,642$335,410$77,815$928,416
5$1,408,724$352,181$81,706$974,837
6$1,479,160$369,790$85,791$1,023,579
7$1,553,118$388,279$90,081$1,074,758
8$1,630,774$407,693$94,585$1,128,495
9$1,712,313$428,078$99,314$1,184,920
10$1,797,928$449,482$104,280$1,244,166
11$1,887,825$471,956$109,494$1,306,375
12$1,982,216$495,554$114,969$1,371,693
13$2,081,327$520,332$120,717$1,440,278
14$2,185,393$546,348$126,753$1,512,292
15$2,294,663$573,666$133,090$1,587,906
16$2,409,396$602,349$139,745$1,667,302
17$2,529,865$632,466$146,732$1,750,667
18$2,656,359$664,090$154,069$1,838,200
19$2,789,177$697,294$161,772$1,930,110
20$2,928,635$732,159$169,861$2,026,616
21$3,075,067$768,767$178,354$2,127,947
22$3,228,821$807,205$187,272$2,234,344
23$3,390,262$847,565$196,635$2,346,061
24$3,559,775$889,944$206,467$2,463,364
25$3,737,763$934,441$216,790$2,586,532
26$3,924,652$981,163$227,630$2,715,859
27$4,120,884$1,030,221$239,011$2,851,652
28$4,326,928$1,081,732$250,962$2,994,234
29$4,543,275$1,135,819$263,510$3,143,946
30$4,770,439$1,192,610$276,685$3,301,144
Total$77,000,000$19,250,000$4,466,000$53,284,000
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