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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 2024 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 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: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,719,545$2,074,420$314,003$3,331,123
2$6,005,523$2,180,231$329,703$3,495,588
3$6,305,799$2,291,333$346,188$3,668,277
4$6,621,089$2,407,991$363,498$3,849,600
5$6,952,143$2,530,481$381,673$4,039,990
6$7,299,750$2,659,095$400,756$4,239,899
7$7,664,738$2,794,141$420,794$4,449,803
8$8,047,975$2,935,938$441,834$4,670,203
9$8,450,374$3,084,826$463,926$4,901,622
10$8,872,892$3,241,158$487,122$5,144,612
11$9,316,537$3,405,306$511,478$5,399,753
12$9,782,364$3,577,662$537,052$5,667,650
13$10,271,482$3,758,636$563,904$5,948,941
14$10,785,056$3,948,658$592,100$6,244,298
15$11,324,309$4,148,182$621,705$6,554,422
16$11,890,524$4,357,682$652,790$6,880,053
17$12,485,050$4,577,656$685,429$7,221,965
18$13,109,303$4,808,630$719,701$7,580,972
19$13,764,768$5,051,152$755,686$7,957,930
20$14,453,006$5,305,800$793,470$8,353,736
21$15,175,656$5,573,181$833,144$8,769,332
22$15,934,439$5,853,930$874,801$9,205,708
23$16,731,161$6,148,717$918,541$9,663,903
24$17,567,719$6,458,244$964,468$10,145,008
25$18,446,105$6,783,247$1,012,691$10,650,167
26$19,368,411$7,124,500$1,063,326$11,180,585
27$20,336,831$7,482,815$1,116,492$11,737,524
28$21,353,673$7,859,047$1,172,317$12,322,309
29$22,421,356$8,254,090$1,230,932$12,936,334
30$23,542,424$8,668,885$1,292,479$13,581,060
Total$380,000,001$139,345,634$20,862,003$219,792,367

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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.