USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 2013

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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 $47,000,000 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 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 3.23%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$22,850$459,868
2$742,788$237,787$23,992$481,010
3$779,928$251,528$25,192$503,208
4$818,924$265,957$26,451$526,516
5$859,870$281,107$27,774$550,989
6$902,864$297,015$29,163$576,687
7$948,007$313,718$30,621$603,669
8$995,407$331,256$32,152$632,000
9$1,045,178$349,671$33,759$661,748
10$1,097,437$369,007$35,447$692,983
11$1,152,308$389,309$37,220$725,780
12$1,209,924$410,627$39,081$760,217
13$1,270,420$433,010$41,035$796,375
14$1,333,941$456,513$43,086$834,342
15$1,400,638$481,191$45,241$874,206
16$1,470,670$507,103$47,503$916,065
17$1,544,204$534,310$49,878$960,015
18$1,621,414$562,878$52,372$1,006,164
19$1,702,484$592,874$54,990$1,054,620
20$1,787,609$624,370$57,740$1,105,499
21$1,876,989$657,441$60,627$1,158,921
22$1,970,839$692,165$63,658$1,215,015
23$2,069,380$728,626$66,841$1,273,914
24$2,172,849$766,909$70,183$1,335,757
25$2,281,492$807,107$73,692$1,400,693
26$2,395,567$849,315$77,377$1,468,875
27$2,515,345$893,633$81,246$1,540,467
28$2,641,112$940,166$85,308$1,615,638
29$2,773,168$989,027$89,573$1,694,567
30$2,911,826$1,040,331$94,052$1,777,443
Total$47,000,000$16,278,650$1,518,104$29,203,251

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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.