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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jun 3, 2005

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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 $106,000,000 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, Jun 3, 2005
Jackpot:$106,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,595,452$548,505$48,661$998,286
2$1,675,225$578,021$51,094$1,046,109
3$1,758,986$609,013$53,649$1,096,324
4$1,846,935$641,554$56,332$1,149,050
5$1,939,282$675,722$59,148$1,204,412
6$2,036,246$711,599$62,106$1,262,542
7$2,138,058$749,269$65,211$1,323,578
8$2,244,961$788,823$68,471$1,387,667
9$2,357,209$830,355$71,895$1,454,959
10$2,475,070$873,964$75,490$1,525,617
11$2,598,823$919,752$79,264$1,599,807
12$2,728,765$967,831$83,227$1,677,707
13$2,865,203$1,018,313$87,389$1,759,501
14$3,008,463$1,071,319$91,758$1,845,386
15$3,158,886$1,126,976$96,346$1,935,564
16$3,316,830$1,185,415$101,163$2,030,252
17$3,482,672$1,246,776$106,221$2,129,674
18$3,656,805$1,311,206$111,533$2,234,067
19$3,839,646$1,378,857$117,109$2,343,680
20$4,031,628$1,449,890$122,965$2,458,773
21$4,233,209$1,524,475$129,113$2,579,621
22$4,444,870$1,602,790$135,569$2,706,512
23$4,667,113$1,685,020$142,347$2,839,747
24$4,900,469$1,771,361$149,464$2,979,643
25$5,145,492$1,862,020$156,938$3,126,535
26$5,402,767$1,957,212$164,784$3,280,771
27$5,672,906$2,057,163$173,024$3,442,719
28$5,956,551$2,162,112$181,675$3,612,764
29$6,254,378$2,272,308$190,759$3,791,312
30$6,567,097$2,388,014$200,296$3,978,787
Total$106,000,000$37,965,635$3,233,001$64,801,366

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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.