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Georgia Mega Millions Jackpot Annuity Payout Schedule for Feb 6, 2024

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The tax information provided here is based on 2025 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 $365,000,000 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, Feb 6, 2024
Jackpot:$365,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,493,774$1,989,717$301,608$3,202,449
2$5,768,463$2,091,351$316,689$3,360,423
3$6,056,886$2,198,068$332,523$3,526,295
4$6,359,730$2,310,120$349,149$3,700,461
5$6,677,716$2,427,775$366,607$3,883,334
6$7,011,602$2,551,313$384,937$4,075,352
7$7,362,182$2,681,028$404,184$4,276,971
8$7,730,292$2,817,228$424,393$4,488,670
9$8,116,806$2,960,239$445,613$4,710,955
10$8,522,646$3,110,399$467,893$4,944,354
11$8,948,779$3,268,068$491,288$5,189,422
12$9,396,218$3,433,621$515,852$5,446,745
13$9,866,028$3,607,451$541,645$5,716,933
14$10,359,330$3,789,972$568,727$6,000,630
15$10,877,296$3,981,620$597,164$6,298,513
16$11,421,161$4,182,850$627,022$6,611,290
17$11,992,219$4,394,141$658,373$6,939,705
18$12,591,830$4,615,997$691,291$7,284,541
19$13,221,422$4,848,946$725,856$7,646,619
20$13,882,493$5,093,543$762,149$8,026,801
21$14,576,617$5,350,369$800,256$8,425,992
22$15,305,448$5,620,036$840,269$8,845,143
23$16,070,721$5,903,187$882,283$9,285,251
24$16,874,257$6,200,495$926,397$9,747,365
25$17,717,969$6,512,669$972,717$10,232,584
26$18,603,868$6,840,451$1,021,352$10,742,064
27$19,534,062$7,184,623$1,072,420$11,277,019
28$20,510,764$7,546,003$1,126,041$11,838,720
29$21,536,303$7,925,452$1,182,343$12,428,507
30$22,613,118$8,323,874$1,241,460$13,047,784
Total$365,000,001$133,760,606$20,038,501$211,200,892

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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.