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Mega Millions Annuity Jackpot Analysis for Indiana (May. 25, 2018 Drawing)

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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 $73,000,000 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:  May. 25, 2018
Jackpot:$73,000,000
Federal Tax:  24%
State Tax:3.23%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,098,755$263,701$35,490$799,564
2$1,153,693$276,886$37,264$839,542
3$1,211,377$290,731$39,127$881,519
4$1,271,946$305,267$41,084$925,595
5$1,335,543$320,530$43,138$971,875
6$1,402,320$336,557$45,295$1,020,469
7$1,472,436$353,385$47,560$1,071,492
8$1,546,058$371,054$49,938$1,125,067
9$1,623,361$389,607$52,435$1,181,320
10$1,704,529$409,087$55,056$1,240,386
11$1,789,756$429,541$57,809$1,302,405
12$1,879,244$451,018$60,700$1,367,526
13$1,973,206$473,569$63,735$1,435,902
14$2,071,866$497,248$66,921$1,507,697
15$2,175,459$522,110$70,267$1,583,082
16$2,284,232$548,216$73,781$1,662,236
17$2,398,444$575,627$77,470$1,745,348
18$2,518,366$604,408$81,343$1,832,615
19$2,644,284$634,628$85,410$1,924,246
20$2,776,499$666,360$89,681$2,020,458
21$2,915,323$699,678$94,165$2,121,481
22$3,061,090$734,662$98,873$2,227,555
23$3,214,144$771,395$103,817$2,338,933
24$3,374,851$809,964$109,008$2,455,879
25$3,543,594$850,463$114,458$2,578,673
26$3,720,774$892,986$120,181$2,707,607
27$3,906,812$937,635$126,190$2,842,987
28$4,102,153$984,517$132,500$2,985,137
29$4,307,261$1,033,743$139,125$3,134,393
30$4,522,624$1,085,430$146,081$3,291,113
Total$73,000,000$17,520,000$2,357,900$53,122,100
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