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Georgia Mega Millions Jackpot Annuity Payout Schedule for Jul 25, 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 $820,000,000 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, Jul 25, 2023
Jackpot:$820,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,342,177$4,524,793$677,586$7,139,798
2$12,959,286$4,753,123$711,465$7,494,697
3$13,607,250$4,992,870$747,038$7,867,342
4$14,287,613$5,244,604$784,390$8,258,618
5$15,001,993$5,508,925$823,609$8,669,458
6$15,752,093$5,786,462$864,790$9,100,841
7$16,539,698$6,077,876$908,029$9,553,792
8$17,366,682$6,383,860$953,431$10,029,391
9$18,235,017$6,705,144$1,001,102$10,528,770
10$19,146,767$7,042,492$1,051,158$11,053,118
11$20,104,106$7,396,707$1,103,715$11,603,683
12$21,109,311$7,768,633$1,158,901$12,181,777
13$22,164,776$8,159,155$1,216,846$12,788,775
14$23,273,015$8,569,203$1,277,689$13,426,123
15$24,436,666$8,999,754$1,341,573$14,095,339
16$25,658,499$9,451,833$1,408,652$14,798,015
17$26,941,424$9,926,515$1,479,084$15,535,825
18$28,288,495$10,424,931$1,553,038$16,310,526
19$29,702,920$10,948,268$1,630,690$17,123,961
20$31,188,066$11,497,772$1,712,225$17,978,069
21$32,747,469$12,074,751$1,797,836$18,874,882
22$34,384,843$12,680,580$1,887,728$19,816,535
23$36,104,085$13,316,699$1,982,114$20,805,272
24$37,909,289$13,984,625$2,081,220$21,843,444
25$39,804,753$14,685,946$2,185,281$22,933,526
26$41,794,992$15,422,335$2,294,545$24,078,112
27$43,884,741$16,195,542$2,409,272$25,279,927
28$46,078,978$17,007,409$2,529,736$26,541,832
29$48,382,927$17,859,871$2,656,223$27,866,833
30$50,802,073$18,754,955$2,789,034$29,258,085
Total$820,000,002$302,145,633$45,018,000$472,836,366

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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.