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Georgia Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2023

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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 $315,000,000 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 3, 2023
Jackpot:$315,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,741,202$1,712,432$260,292$2,768,478
2$4,978,262$1,800,145$273,307$2,904,811
3$5,227,175$1,892,243$286,972$3,047,961
4$5,488,534$1,988,945$301,321$3,198,268
5$5,762,961$2,090,483$316,387$3,356,091
6$6,051,109$2,197,098$332,206$3,521,805
7$6,353,664$2,309,044$348,816$3,695,805
8$6,671,348$2,426,586$366,257$3,878,504
9$7,004,915$2,550,006$384,570$4,070,339
10$7,355,161$2,679,597$403,798$4,271,765
11$7,722,919$2,815,668$423,988$4,483,263
12$8,109,065$2,958,542$445,188$4,705,335
13$8,514,518$3,108,559$467,447$4,938,511
14$8,940,244$3,266,078$490,819$5,183,346
15$9,387,256$3,431,472$515,360$5,440,423
16$9,856,619$3,605,137$541,128$5,710,354
17$10,349,449$3,787,484$568,185$5,993,781
18$10,866,922$3,978,949$596,594$6,291,379
19$11,410,268$4,179,987$626,424$6,603,857
20$11,980,782$4,391,077$657,745$6,931,960
21$12,579,820$4,612,721$690,632$7,276,467
22$13,208,812$4,845,448$725,164$7,638,200
23$13,869,252$5,089,811$761,422$8,018,019
24$14,562,715$5,346,392$799,493$8,416,829
25$15,290,850$5,615,802$839,468$8,835,580
26$16,055,393$5,898,683$881,441$9,275,269
27$16,858,163$6,195,708$925,513$9,736,942
28$17,701,071$6,507,584$971,789$10,221,698
29$18,586,124$6,835,054$1,020,378$10,730,692
30$19,515,431$7,178,897$1,071,397$11,265,136
Total$315,000,001$115,295,632$17,293,501$182,410,868

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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.