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Georgia Mega Millions Jackpot Annuity Payout Schedule for Jun 27, 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 $343,000,000 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, Jun 27, 2023
Jackpot:$343,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,162,642$1,868,365$283,429$3,010,848
2$5,420,774$1,963,874$297,601$3,159,300
3$5,691,813$2,064,159$312,481$3,315,174
4$5,976,404$2,169,457$328,105$3,478,842
5$6,275,224$2,280,021$344,510$3,650,693
6$6,588,985$2,396,112$361,735$3,831,138
7$6,918,435$2,518,009$379,822$4,020,604
8$7,264,356$2,646,000$398,813$4,219,543
9$7,627,574$2,780,390$418,754$4,428,430
10$8,008,953$2,921,500$439,691$4,647,761
11$8,409,400$3,069,666$461,676$4,878,058
12$8,829,870$3,225,240$484,760$5,119,871
13$9,271,364$3,388,592$508,998$5,373,774
14$9,734,932$3,560,113$534,448$5,640,372
15$10,221,679$3,740,209$561,170$5,920,300
16$10,732,763$3,929,310$589,229$6,214,224
17$11,269,400$4,127,866$618,690$6,522,844
18$11,832,871$4,336,350$649,625$6,846,896
19$12,424,514$4,555,258$682,106$7,187,150
20$13,045,740$4,785,111$716,211$7,544,417
21$13,698,027$5,026,458$752,022$7,919,547
22$14,382,928$5,279,871$789,623$8,313,434
23$15,102,075$5,545,955$829,104$8,727,015
24$15,857,178$5,825,344$870,559$9,161,275
25$16,650,037$6,118,701$914,087$9,617,249
26$17,482,539$6,426,727$959,791$10,096,021
27$18,356,666$6,750,154$1,007,781$10,598,731
28$19,274,499$7,089,752$1,058,170$11,126,577
29$20,238,224$7,446,331$1,111,079$11,680,815
30$21,250,136$7,820,738$1,166,632$12,262,765
Total$343,000,001$125,655,633$18,830,702$198,513,668

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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.