USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Oct 23, 2018

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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 $1,537,000,000 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, Oct 23, 2018
Jackpot:$1,537,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$23,134,056$8,517,788$1,270,060$13,346,208
2$24,290,759$8,945,768$1,333,563$14,011,428
3$25,505,296$9,395,147$1,400,241$14,709,908
4$26,780,562$9,866,996$1,470,253$15,443,313
5$28,119,589$10,362,436$1,543,765$16,213,388
6$29,525,569$10,882,648$1,620,954$17,021,967
7$31,001,848$11,428,871$1,702,001$17,870,975
8$32,551,940$12,002,406$1,787,102$18,762,433
9$34,179,537$12,604,616$1,876,457$19,698,464
10$35,888,513$13,236,938$1,970,279$20,681,296
11$37,682,939$13,900,875$2,068,793$21,713,271
12$39,567,086$14,598,010$2,172,233$22,796,844
13$41,545,440$15,330,001$2,280,845$23,934,595
14$43,622,713$16,098,592$2,394,887$25,129,234
15$45,803,848$16,905,612$2,514,631$26,383,605
16$48,094,041$17,752,983$2,640,363$27,700,695
17$50,498,742$18,642,722$2,772,381$29,083,639
18$53,023,680$19,576,949$2,911,000$30,535,730
19$55,674,863$20,557,887$3,056,550$32,060,426
20$58,458,607$21,587,872$3,209,378$33,661,357
21$61,381,537$22,669,356$3,369,846$35,342,334
22$64,450,614$23,804,915$3,538,339$37,107,360
23$67,673,145$24,997,251$3,715,256$38,960,638
24$71,056,801$26,249,204$3,901,018$40,906,579
25$74,609,641$27,563,755$4,096,069$42,949,817
26$78,340,125$28,944,034$4,300,873$45,095,218
27$82,257,131$30,393,326$4,515,916$47,347,888
28$86,369,986$31,915,083$4,741,712$49,713,191
29$90,688,486$33,512,927$4,978,798$52,196,760
30$95,222,911$35,190,665$5,227,738$54,804,508
Total$1,537,000,003$567,435,633$84,381,301$885,183,069

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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.