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Georgia Mega Millions Jackpot Annuity Payout Schedule for Aug 29, 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 $67,000,000 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, Aug 29, 2023
Jackpot:$67,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$331,313$55,364$621,770
2$1,058,868$349,969$58,132$650,768
3$1,111,812$369,558$61,038$681,215
4$1,167,403$390,127$64,090$713,185
5$1,225,773$411,724$67,295$746,754
6$1,287,061$434,400$70,660$782,001
7$1,351,414$458,211$74,193$819,011
8$1,418,985$483,212$77,902$857,871
9$1,489,934$509,463$81,797$898,673
10$1,564,431$537,027$85,887$941,517
11$1,642,653$565,969$90,182$986,502
12$1,724,785$596,358$94,691$1,033,736
13$1,811,024$628,267$99,425$1,083,332
14$1,901,576$661,771$104,397$1,135,408
15$1,996,654$696,950$109,616$1,190,088
16$2,096,487$733,888$115,097$1,247,502
17$2,201,311$772,673$120,852$1,307,786
18$2,311,377$813,397$126,895$1,371,085
19$2,426,946$856,158$133,239$1,437,549
20$2,548,293$901,056$139,901$1,507,336
21$2,675,708$948,200$146,896$1,580,612
22$2,809,493$997,700$154,241$1,657,552
23$2,949,968$1,049,676$161,953$1,738,339
24$3,097,466$1,104,250$170,051$1,823,165
25$3,252,340$1,161,553$178,553$1,912,233
26$3,414,957$1,221,722$187,481$2,005,754
27$3,585,704$1,284,898$196,855$2,103,951
28$3,764,990$1,351,234$206,698$2,207,058
29$3,953,239$1,420,886$217,033$2,315,320
30$4,150,901$1,494,021$227,884$2,428,995
Total$67,000,000$23,535,631$3,678,298$39,786,068

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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.