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Georgia Mega Millions Jackpot Annuity Payout Schedule for Dec 31, 2010

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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 $242,000,000 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:Fri, Dec 31, 2010
Jackpot:$242,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,642,447$1,310,660$209,441$2,122,346
2$3,824,570$1,378,046$219,913$2,226,611
3$4,015,798$1,448,800$230,908$2,336,089
4$4,216,588$1,523,093$242,454$2,451,042
5$4,427,417$1,601,099$254,576$2,571,741
6$4,648,788$1,683,007$267,305$2,698,476
7$4,881,228$1,769,009$280,671$2,831,548
8$5,125,289$1,859,312$294,704$2,971,273
9$5,381,554$1,954,130$309,439$3,117,984
10$5,650,631$2,053,689$324,911$3,272,031
11$5,933,163$2,158,225$341,157$3,433,781
12$6,229,821$2,267,989$358,215$3,603,618
13$6,541,312$2,383,240$376,125$3,781,946
14$6,868,378$2,504,255$394,932$3,969,191
15$7,211,797$2,631,320$414,678$4,165,798
16$7,572,386$2,764,738$435,412$4,372,236
17$7,951,006$2,904,827$457,183$4,588,996
18$8,348,556$3,051,921$480,042$4,816,593
19$8,765,984$3,206,369$504,044$5,055,571
20$9,204,283$3,368,540$529,246$5,306,497
21$9,664,497$3,538,819$555,709$5,569,970
22$10,147,722$3,717,612$583,494$5,846,616
23$10,655,108$3,905,345$612,669$6,137,094
24$11,187,863$4,102,464$643,302$6,442,097
25$11,747,256$4,309,440$675,467$6,762,349
26$12,334,619$4,526,764$709,241$7,098,615
27$12,951,350$4,754,955$744,703$7,451,693
28$13,598,918$4,994,555$781,938$7,822,425
29$14,278,864$5,246,135$821,035$8,211,694
30$14,992,807$5,510,294$862,086$8,620,427
Total$242,000,000$88,428,652$13,915,000$139,656,348

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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.