USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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The tax information provided here is based on 2022 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 $31,000,000 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 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$26,829$302,704
2$489,924$145,226$28,171$316,527
3$514,420$153,800$29,579$331,041
4$540,141$162,807$31,058$346,276
5$567,149$172,800$32,611$361,738
6$595,506$183,292$34,242$377,972
7$625,281$194,309$35,954$395,019
8$656,545$205,877$37,751$412,917
9$689,373$218,023$39,639$431,711
10$723,841$230,776$41,621$451,444
11$760,033$244,167$43,702$472,164
12$798,035$258,228$45,887$493,920
13$837,937$272,992$48,181$516,764
14$879,834$288,493$50,590$540,750
15$923,825$304,770$53,120$565,935
16$970,016$321,861$55,776$592,379
17$1,018,517$339,806$58,565$620,146
18$1,069,443$358,649$61,493$649,301
19$1,122,915$378,434$64,568$679,914
20$1,179,061$399,208$67,796$712,057
21$1,238,014$421,020$71,186$745,808
22$1,299,915$443,923$74,745$781,246
23$1,364,911$467,972$78,482$818,456
24$1,433,156$493,223$82,406$857,527
25$1,504,814$519,736$86,527$898,551
26$1,580,055$547,575$90,853$941,626
27$1,659,057$576,806$95,396$986,855
28$1,742,010$607,499$100,166$1,034,346
29$1,829,111$639,726$105,174$1,084,211
30$1,920,566$673,564$110,433$1,136,569
Total$31,000,000$10,361,623$1,782,501$18,855,874

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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.