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Indiana Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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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 $56,000,000 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 money, as well as deductions claimed.

State:

Indiana

Drawing Date:Fri, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$25,708$547,119
2$885,024$285,647$26,993$572,384
3$929,276$302,020$28,343$598,913
4$975,739$319,211$29,760$626,768
5$1,024,526$337,262$31,248$656,016
6$1,075,753$356,216$32,810$686,726
7$1,129,540$376,118$34,451$718,972
8$1,186,017$397,014$36,174$752,830
9$1,245,318$418,955$37,982$788,381
10$1,307,584$441,994$39,881$825,709
11$1,372,963$466,184$41,875$864,904
12$1,441,611$491,584$43,969$906,058
13$1,513,692$518,254$46,168$949,271
14$1,589,377$546,257$48,476$994,644
15$1,668,845$575,661$50,900$1,042,285
16$1,752,288$606,534$53,445$1,092,309
17$1,839,902$638,952$56,117$1,144,834
18$1,931,897$672,990$58,923$1,199,985
19$2,028,492$708,730$61,869$1,257,893
20$2,129,917$746,257$64,962$1,318,697
21$2,236,413$785,660$68,211$1,382,542
22$2,348,233$827,034$71,621$1,449,578
23$2,465,645$870,476$75,202$1,519,966
24$2,588,927$916,091$78,962$1,593,874
25$2,718,373$963,986$82,910$1,671,477
26$2,854,292$1,014,276$87,056$1,752,960
27$2,997,007$1,067,080$91,409$1,838,518
28$3,146,857$1,122,525$95,979$1,928,353
29$3,304,200$1,180,742$100,778$2,022,680
30$3,469,410$1,241,869$105,817$2,121,723
Total$56,000,000$19,465,632$1,707,999$34,826,369

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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.