USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Feb 7, 2023

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

The tax information provided here is based on 2022 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 $31,000,000 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, Feb 7, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$14,698$314,836
2$489,924$145,226$15,433$329,265
3$514,420$153,800$16,204$344,416
4$540,141$162,807$17,014$360,320
5$567,149$172,800$17,865$376,483
6$595,506$183,292$18,758$393,455
7$625,281$194,309$19,696$411,276
8$656,545$205,877$20,681$429,987
9$689,373$218,023$21,715$449,634
10$723,841$230,776$22,801$470,264
11$760,033$244,167$23,941$491,925
12$798,035$258,228$25,138$514,669
13$837,937$272,992$26,395$538,550
14$879,834$288,493$27,715$563,625
15$923,825$304,770$29,100$589,954
16$970,016$321,861$30,556$617,600
17$1,018,517$339,806$32,083$646,628
18$1,069,443$358,649$33,687$677,107
19$1,122,915$378,434$35,372$709,110
20$1,179,061$399,208$37,140$742,713
21$1,238,014$421,020$38,997$777,996
22$1,299,915$443,923$40,947$815,044
23$1,364,911$467,972$42,995$853,944
24$1,433,156$493,223$45,144$894,789
25$1,504,814$519,736$47,402$937,676
26$1,580,055$547,575$49,772$982,708
27$1,659,057$576,806$52,260$1,029,991
28$1,742,010$607,499$54,873$1,079,638
29$1,829,111$639,726$57,617$1,131,768
30$1,920,566$673,564$60,498$1,186,504
Total$31,000,000$10,361,623$976,497$19,661,875

◄ 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.