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 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 $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: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$23,134,056$8,522,556$1,330,208$13,281,292
2$24,290,759$8,950,536$1,396,719$13,943,504
3$25,505,296$9,399,915$1,466,555$14,638,827
4$26,780,562$9,871,763$1,539,882$15,368,917
5$28,119,589$10,367,203$1,616,876$16,135,510
6$29,525,569$10,887,415$1,697,720$16,940,433
7$31,001,848$11,433,639$1,782,606$17,785,603
8$32,551,940$12,007,173$1,871,737$18,673,031
9$34,179,537$12,609,384$1,965,323$19,604,830
10$35,888,513$13,241,705$2,063,590$20,583,219
11$37,682,939$13,905,643$2,166,769$21,610,528
12$39,567,086$14,602,777$2,275,107$22,689,202
13$41,545,440$15,334,768$2,388,863$23,821,810
14$43,622,713$16,103,359$2,508,306$25,011,048
15$45,803,848$16,910,379$2,633,721$26,259,748
16$48,094,041$17,757,750$2,765,407$27,570,884
17$50,498,742$18,647,490$2,903,678$28,947,575
18$53,023,680$19,581,716$3,048,862$30,393,102
19$55,674,863$20,562,654$3,201,305$31,910,904
20$58,458,607$21,592,640$3,361,370$33,504,597
21$61,381,537$22,674,124$3,529,438$35,177,975
22$64,450,614$23,809,682$3,705,910$36,935,021
23$67,673,145$25,002,019$3,891,206$38,779,920
24$71,056,801$26,253,971$4,085,766$40,717,064
25$74,609,641$27,568,522$4,290,054$42,751,065
26$78,340,125$28,948,801$4,504,557$44,886,766
27$82,257,131$30,398,093$4,729,785$47,129,252
28$86,369,986$31,919,850$4,966,274$49,483,862
29$90,688,486$33,517,695$5,214,588$51,956,203
30$95,222,911$35,195,432$5,475,317$54,552,161
Total$1,537,000,003$567,578,654$88,377,499$881,043,853

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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.