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Georgia Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $162,000,000 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, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$133,864$1,444,097
2$2,560,249$905,480$140,558$1,514,212
3$2,688,262$952,845$147,586$1,587,831
4$2,822,675$1,002,577$154,965$1,665,132
5$2,963,808$1,054,797$162,713$1,746,298
6$3,111,999$1,109,627$170,849$1,831,523
7$3,267,599$1,167,199$179,391$1,921,008
8$3,430,979$1,227,650$188,361$2,014,968
9$3,602,528$1,291,123$197,779$2,113,626
10$3,782,654$1,357,770$207,668$2,217,217
11$3,971,787$1,427,749$218,051$2,325,987
12$4,170,376$1,501,227$228,954$2,440,196
13$4,378,895$1,578,379$240,401$2,560,115
14$4,597,840$1,659,388$252,421$2,686,030
15$4,827,732$1,744,448$265,042$2,818,241
16$5,069,118$1,833,761$278,295$2,957,062
17$5,322,574$1,927,540$292,209$3,102,825
18$5,588,703$2,026,008$306,820$3,255,875
19$5,868,138$2,129,399$322,161$3,416,578
20$6,161,545$2,237,959$338,269$3,585,317
21$6,469,622$2,351,948$355,182$3,762,492
22$6,793,103$2,471,636$372,941$3,948,526
23$7,132,758$2,597,308$391,588$4,143,862
24$7,489,396$2,729,264$411,168$4,348,964
25$7,863,866$2,867,818$431,726$4,564,322
26$8,257,059$3,013,300$453,313$4,790,447
27$8,669,912$3,166,055$475,978$5,027,879
28$9,103,408$3,326,449$499,777$5,277,182
29$9,558,578$3,494,862$524,766$5,538,951
30$10,036,507$3,671,695$551,004$5,813,808
Total$162,000,000$58,685,632$8,893,800$94,420,571

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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.