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Indiana Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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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 $120,000,000 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:Fri, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$56,894$1,118,039
2$1,896,481$664,653$59,739$1,172,089
3$1,991,305$699,738$62,726$1,228,841
4$2,090,870$736,577$65,862$1,288,431
5$2,195,414$775,258$69,156$1,351,000
6$2,305,184$815,873$72,613$1,416,698
7$2,420,444$858,519$76,244$1,485,680
8$2,541,466$903,297$80,056$1,558,112
9$2,668,539$950,314$84,059$1,634,166
10$2,801,966$999,682$88,262$1,714,022
11$2,942,064$1,051,519$92,675$1,797,870
12$3,089,167$1,105,947$97,309$1,885,912
13$3,243,626$1,163,097$102,174$1,978,355
14$3,405,807$1,223,104$107,283$2,075,421
15$3,576,097$1,286,111$112,647$2,177,339
16$3,754,902$1,352,269$118,279$2,284,354
17$3,942,647$1,421,735$124,193$2,396,719
18$4,139,780$1,494,674$130,403$2,514,703
19$4,346,769$1,571,259$136,923$2,638,586
20$4,564,107$1,651,675$143,769$2,768,663
21$4,792,313$1,736,111$150,958$2,905,244
22$5,031,928$1,824,768$158,506$3,048,654
23$5,283,525$1,917,859$166,431$3,199,234
24$5,547,701$2,015,604$174,753$3,357,344
25$5,825,086$2,118,237$183,490$3,523,359
26$6,116,340$2,226,001$192,665$3,697,675
27$6,422,157$2,339,153$202,298$3,880,706
28$6,743,265$2,457,963$212,413$4,072,889
29$7,080,428$2,582,713$223,033$4,274,681
30$7,434,450$2,713,701$234,185$4,486,563
Total$120,000,000$43,288,650$3,779,998$72,931,349

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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.