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Mega Millions Annuity Jackpot Analysis for Indiana

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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 $192,000,000 would be for a resident of Indiana, 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:

Indiana

Drawing Date:  Tue, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:3.23%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$93,343$2,102,962
2$3,034,369$728,249$98,010$2,208,111
3$3,186,088$764,661$102,911$2,318,516
4$3,345,392$802,894$108,056$2,434,442
5$3,512,662$843,039$113,459$2,556,164
6$3,688,295$885,191$119,132$2,683,972
7$3,872,710$929,450$125,089$2,818,171
8$4,066,345$975,923$131,343$2,959,079
9$4,269,662$1,024,719$137,910$3,107,033
10$4,483,145$1,075,955$144,806$3,262,385
11$4,707,303$1,129,753$152,046$3,425,504
12$4,942,668$1,186,240$159,648$3,596,779
13$5,189,801$1,245,552$167,631$3,776,618
14$5,449,291$1,307,830$176,012$3,965,449
15$5,721,756$1,373,221$184,813$4,163,722
16$6,007,844$1,441,883$194,053$4,371,908
17$6,308,236$1,513,977$203,756$4,590,503
18$6,623,648$1,589,675$213,944$4,820,028
19$6,954,830$1,669,159$224,641$5,061,030
20$7,302,572$1,752,617$235,873$5,314,081
21$7,667,700$1,840,248$247,667$5,579,785
22$8,051,085$1,932,260$260,050$5,858,775
23$8,453,639$2,028,873$273,053$6,151,713
24$8,876,321$2,130,317$286,705$6,459,299
25$9,320,137$2,236,833$301,040$6,782,264
26$9,786,144$2,348,675$316,092$7,121,377
27$10,275,452$2,466,108$331,897$7,477,446
28$10,789,224$2,589,414$348,492$7,851,318
29$11,328,685$2,718,884$365,917$8,243,884
30$11,895,120$2,854,829$384,212$8,656,079
Total$192,000,000$46,080,000$6,201,600$139,718,400
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