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Georgia Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 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 $101,000,000 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, Sep 5, 2023
Jackpot:$101,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,520,195$520,660$83,459$916,076
2$1,596,205$548,783$87,632$959,790
3$1,676,015$578,313$92,013$1,005,688
4$1,759,816$609,320$96,614$1,053,882
5$1,847,806$641,876$101,445$1,104,486
6$1,940,197$676,061$106,517$1,157,619
7$2,037,207$711,954$111,843$1,213,410
8$2,139,067$749,643$117,435$1,271,990
9$2,246,020$789,215$123,307$1,333,499
10$2,358,321$830,767$129,472$1,398,083
11$2,476,237$874,396$135,945$1,465,896
12$2,600,049$920,206$142,743$1,537,101
13$2,730,052$968,307$149,880$1,611,865
14$2,866,554$1,018,813$157,374$1,690,368
15$3,009,882$1,071,844$165,243$1,772,795
16$3,160,376$1,127,527$173,505$1,859,345
17$3,318,395$1,185,994$182,180$1,950,221
18$3,484,315$1,247,384$191,289$2,045,642
19$3,658,530$1,311,844$200,853$2,145,833
20$3,841,457$1,379,527$210,896$2,251,034
21$4,033,530$1,450,594$221,441$2,361,495
22$4,235,206$1,525,214$232,513$2,477,479
23$4,446,967$1,603,565$244,138$2,599,263
24$4,669,315$1,685,834$256,345$2,727,135
25$4,902,781$1,772,217$269,163$2,861,401
26$5,147,920$1,862,918$282,621$3,002,381
27$5,405,316$1,958,155$296,752$3,150,409
28$5,675,581$2,058,153$311,589$3,305,839
29$5,959,360$2,163,151$327,169$3,469,040
30$6,257,329$2,273,399$343,527$3,640,402
Total$101,000,000$36,115,634$5,544,903$59,339,467

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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.