USA Mega

Georgia Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $122,000,000 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 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$100,812$1,097,854
2$1,928,089$671,581$105,852$1,150,656
3$2,024,493$707,250$111,145$1,206,098
4$2,125,718$744,703$116,702$1,264,313
5$2,232,004$784,029$122,537$1,325,438
6$2,343,604$825,321$128,664$1,389,619
7$2,460,784$868,678$135,097$1,457,009
8$2,583,823$914,202$141,852$1,527,769
9$2,713,015$962,003$148,945$1,602,067
10$2,848,665$1,012,194$156,392$1,680,080
11$2,991,099$1,064,894$164,211$1,761,993
12$3,140,654$1,120,230$172,422$1,848,002
13$3,297,686$1,178,332$181,043$1,938,312
14$3,462,571$1,239,339$190,095$2,033,137
15$3,635,699$1,303,396$199,600$2,132,703
16$3,817,484$1,370,657$209,580$2,237,247
17$4,008,358$1,441,280$220,059$2,347,019
18$4,208,776$1,515,435$231,062$2,462,279
19$4,419,215$1,593,297$242,615$2,583,303
20$4,640,176$1,675,053$254,746$2,710,377
21$4,872,184$1,760,896$267,483$2,843,806
22$5,115,794$1,851,031$280,857$2,983,905
23$5,371,583$1,945,674$294,900$3,131,010
24$5,640,162$2,045,048$309,645$3,285,470
25$5,922,171$2,149,391$325,127$3,447,653
26$6,218,279$2,258,951$341,384$3,617,945
27$6,529,193$2,373,989$358,453$3,796,751
28$6,855,653$2,494,779$376,375$3,984,498
29$7,198,435$2,621,609$395,194$4,181,632
30$7,558,357$2,754,780$414,954$4,388,624
Total$122,000,000$43,885,632$6,697,803$71,416,569

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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.