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Georgia Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 2022

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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 $510,000,000 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:Fri, Dec 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$421,425$4,456,413
2$8,060,044$2,940,404$442,496$4,677,143
3$8,463,046$3,089,515$464,621$4,908,910
4$8,886,198$3,246,081$487,852$5,152,265
5$9,330,508$3,410,476$512,245$5,407,787
6$9,797,033$3,583,090$537,857$5,676,086
7$10,286,885$3,764,335$564,750$5,957,800
8$10,801,229$3,954,643$592,987$6,253,599
9$11,341,291$4,154,465$622,637$6,564,189
10$11,908,355$4,364,279$653,769$6,890,307
11$12,503,773$4,584,584$686,457$7,232,732
12$13,128,962$4,815,904$720,780$7,592,278
13$13,785,410$5,058,789$756,819$7,969,801
14$14,474,680$5,313,819$794,660$8,366,201
15$15,198,414$5,581,601$834,393$8,782,420
16$15,958,335$5,862,772$876,113$9,219,451
17$16,756,251$6,158,001$919,918$9,678,332
18$17,594,064$6,467,991$965,914$10,160,159
19$18,473,767$6,793,482$1,014,210$10,666,076
20$19,397,456$7,135,246$1,064,920$11,197,289
21$20,367,328$7,494,099$1,118,166$11,755,063
22$21,385,695$7,870,895$1,174,075$12,340,725
23$22,454,980$8,266,530$1,232,778$12,955,671
24$23,577,728$8,681,947$1,294,417$13,601,364
25$24,756,615$9,118,135$1,359,138$14,279,341
26$25,994,446$9,576,133$1,427,095$14,991,218
27$27,294,168$10,057,030$1,498,450$15,738,688
28$28,658,876$10,561,972$1,573,372$16,523,532
29$30,091,820$11,092,161$1,652,041$17,347,618
30$31,596,411$11,648,860$1,734,643$18,212,908
Total$510,000,001$187,445,633$27,998,998$294,555,366

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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.