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Georgia Mega Millions Jackpot Annuity Payout Schedule for Jan 4, 2011

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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 $380,000,000 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 4, 2011
Jackpot:$380,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,719,545$2,079,187$328,874$3,311,485
2$6,005,523$2,184,998$345,318$3,475,207
3$6,305,799$2,296,101$362,583$3,647,115
4$6,621,089$2,412,758$380,713$3,827,618
5$6,952,143$2,535,248$399,748$4,017,147
6$7,299,750$2,663,863$419,736$4,216,152
7$7,664,738$2,798,908$440,722$4,425,107
8$8,047,975$2,940,706$462,759$4,644,511
9$8,450,374$3,089,593$485,896$4,874,884
10$8,872,892$3,245,925$510,191$5,116,776
11$9,316,537$3,410,074$535,701$5,370,762
12$9,782,364$3,582,430$562,486$5,637,448
13$10,271,482$3,763,403$590,610$5,917,468
14$10,785,056$3,953,426$620,141$6,211,489
15$11,324,309$4,152,949$651,148$6,520,212
16$11,890,524$4,362,449$683,705$6,844,370
17$12,485,050$4,582,424$717,890$7,184,736
18$13,109,303$4,813,397$753,785$7,542,121
19$13,764,768$5,055,919$791,474$7,917,375
20$14,453,006$5,310,567$831,048$8,311,391
21$15,175,656$5,577,948$872,600$8,725,108
22$15,934,439$5,858,698$916,230$9,159,511
23$16,731,161$6,153,485$962,042$9,615,635
24$17,567,719$6,463,011$1,010,144$10,094,564
25$18,446,105$6,788,014$1,060,651$10,597,440
26$19,368,411$7,129,267$1,113,684$11,125,460
27$20,336,831$7,487,583$1,169,368$11,679,881
28$21,353,673$7,863,814$1,227,836$12,262,023
29$22,421,356$8,258,857$1,289,228$12,873,271
30$23,542,424$8,673,652$1,353,689$13,515,083
Total$380,000,001$139,488,654$21,850,000$218,661,350

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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.