USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Jan 19, 2021

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2021 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 $850,000,000 for a ticket purchased in Indiana, 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 prize money, as well as deductions claimed.

State:

Indiana

Drawing Date:Tue, Jan 19, 2021
Jackpot:$850,000,000
Federal Tax:37% marginal rate
State Tax: 3.23%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,793,720$4,697,749$413,237$7,682,734
2$13,433,406$4,934,432$433,899$8,065,074
3$14,105,076$5,182,950$455,594$8,466,532
4$14,810,330$5,443,894$478,374$8,888,062
5$15,550,846$5,717,885$502,292$9,330,668
6$16,328,389$6,005,576$527,407$9,795,406
7$17,144,809$6,307,651$553,777$10,283,380
8$18,002,049$6,624,830$581,466$10,795,752
9$18,902,151$6,957,868$610,539$11,333,744
10$19,847,259$7,307,558$641,066$11,898,634
11$20,839,622$7,674,732$673,120$12,491,770
12$21,881,603$8,060,265$706,776$13,114,562
13$22,975,683$8,465,075$742,115$13,768,493
14$24,124,467$8,890,125$779,220$14,455,122
15$25,330,690$9,336,428$818,181$15,176,081
16$26,597,225$9,805,046$859,090$15,933,089
17$27,927,086$10,297,094$902,045$16,727,947
18$29,323,440$10,813,745$947,147$17,562,548
19$30,789,612$11,356,229$994,504$18,438,879
20$32,329,093$11,925,837$1,044,230$19,359,027
21$33,945,547$12,523,925$1,096,441$20,325,181
22$35,642,825$13,151,917$1,151,263$21,339,644
23$37,424,966$13,811,310$1,208,826$22,404,830
24$39,296,214$14,503,671$1,269,268$23,523,275
25$41,261,025$15,230,651$1,332,731$24,697,642
26$43,324,077$15,993,981$1,399,368$25,930,728
27$45,490,280$16,795,476$1,469,336$27,225,468
28$47,764,794$17,637,046$1,542,803$28,584,945
29$50,153,034$18,520,695$1,619,943$30,012,396
30$52,660,686$19,448,526$1,700,940$31,511,220
Total$850,000,002$313,422,167$27,454,998$509,122,833

◄ Back to Jackpot Analysis

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.