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Mega Millions Annuity Jackpot Analysis for Indiana (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:3.23%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$157,030$3,537,796
2$5,104,694$1,225,127$164,882$3,714,686
3$5,359,929$1,286,383$173,126$3,900,420
4$5,627,926$1,350,702$181,782$4,095,441
5$5,909,321$1,418,237$190,871$4,300,213
6$6,204,788$1,489,149$200,415$4,515,224
7$6,515,027$1,563,607$210,435$4,740,985
8$6,840,779$1,641,787$220,957$4,978,035
9$7,182,817$1,723,876$232,005$5,226,936
10$7,541,958$1,810,070$243,605$5,488,283
11$7,919,056$1,900,573$255,786$5,762,697
12$8,315,009$1,995,602$268,575$6,050,832
13$8,730,759$2,095,382$282,004$6,353,374
14$9,167,297$2,200,151$296,104$6,671,042
15$9,625,662$2,310,159$310,909$7,004,594
16$10,106,946$2,425,667$326,454$7,354,824
17$10,612,293$2,546,950$342,777$7,722,565
18$11,142,907$2,674,298$359,916$8,108,694
19$11,700,053$2,808,013$377,912$8,514,128
20$12,285,055$2,948,413$396,807$8,939,835
21$12,899,308$3,095,834$416,648$9,386,826
22$13,544,273$3,250,626$437,480$9,856,168
23$14,221,487$3,413,157$459,354$10,348,976
24$14,932,561$3,583,815$482,322$10,866,425
25$15,679,189$3,763,005$506,438$11,409,746
26$16,463,149$3,951,156$531,760$11,980,234
27$17,286,307$4,148,714$558,348$12,579,245
28$18,150,622$4,356,149$586,265$13,208,207
29$19,058,153$4,573,957$615,578$13,868,618
30$20,011,061$4,802,655$646,357$14,562,049
Total$323,000,001$77,520,000$10,432,900$235,047,100
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