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Georgia Mega Millions Jackpot Annuity Payout Schedule for Jan 19, 2021

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The tax information provided here is based on 2021 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 $850,000,000 for a ticket purchased in Georgia, 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 prize money, as well as deductions claimed.

State:

Georgia

Drawing Date:Tue, Jan 19, 2021
Jackpot:$850,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,793,720$4,697,749$735,639$7,360,332
2$13,433,406$4,934,432$772,421$7,726,553
3$14,105,076$5,182,950$811,042$8,111,084
4$14,810,330$5,443,894$851,594$8,514,842
5$15,550,846$5,717,885$894,174$8,938,787
6$16,328,389$6,005,576$938,882$9,383,930
7$17,144,809$6,307,651$985,826$9,851,331
8$18,002,049$6,624,830$1,035,118$10,342,101
9$18,902,151$6,957,868$1,086,874$10,857,409
10$19,847,259$7,307,558$1,141,217$11,398,483
11$20,839,622$7,674,732$1,198,278$11,966,611
12$21,881,603$8,060,265$1,258,192$12,563,145
13$22,975,683$8,465,075$1,321,102$13,189,506
14$24,124,467$8,890,125$1,387,157$13,847,185
15$25,330,690$9,336,428$1,456,515$14,537,748
16$26,597,225$9,805,046$1,529,340$15,262,839
17$27,927,086$10,297,094$1,605,807$16,024,184
18$29,323,440$10,813,745$1,686,098$16,823,597
19$30,789,612$11,356,229$1,770,403$17,662,981
20$32,329,093$11,925,837$1,858,923$18,544,333
21$33,945,547$12,523,925$1,951,869$19,469,754
22$35,642,825$13,151,917$2,049,462$20,441,445
23$37,424,966$13,811,310$2,151,936$21,461,721
24$39,296,214$14,503,671$2,259,532$22,533,010
25$41,261,025$15,230,651$2,372,509$23,657,864
26$43,324,077$15,993,981$2,491,134$24,838,962
27$45,490,280$16,795,476$2,615,691$26,079,113
28$47,764,794$17,637,046$2,746,476$27,381,272
29$50,153,034$18,520,695$2,883,799$28,748,540
30$52,660,686$19,448,526$3,027,989$30,184,170
Total$850,000,002$313,422,167$48,874,999$487,702,832

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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.