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Indiana Mega Millions Jackpot Annuity Payout Schedule for Nov 4, 2014

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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 $321,000,000 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:Tue, Nov 4, 2014
Jackpot:$321,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,831,511$1,745,847$147,361$2,938,303
2$5,073,086$1,835,230$154,729$3,083,127
3$5,326,740$1,929,082$162,466$3,235,193
4$5,593,078$2,027,626$170,589$3,394,862
5$5,872,731$2,131,098$179,118$3,562,515
6$6,166,368$2,239,744$188,074$3,738,550
7$6,474,687$2,353,822$197,478$3,923,387
8$6,798,421$2,473,603$207,352$4,117,466
9$7,138,342$2,599,374$217,719$4,321,248
10$7,495,259$2,731,434$228,605$4,535,220
11$7,870,022$2,870,096$240,036$4,759,890
12$8,263,523$3,015,691$252,037$4,995,794
13$8,676,699$3,168,566$264,639$5,243,493
14$9,110,534$3,329,085$277,871$5,503,577
15$9,566,061$3,497,630$291,765$5,776,666
16$10,044,364$3,674,602$306,353$6,063,408
17$10,546,582$3,860,423$321,671$6,364,488
18$11,073,911$4,055,535$337,754$6,680,622
19$11,627,606$4,260,402$354,642$7,012,562
20$12,208,987$4,475,513$372,374$7,361,100
21$12,819,436$4,701,379$390,993$7,727,064
22$13,460,408$4,938,539$410,542$8,111,327
23$14,133,428$5,187,556$431,070$8,514,803
24$14,840,100$5,449,025$452,623$8,938,452
25$15,582,105$5,723,566$475,254$9,383,284
26$16,361,210$6,011,836$499,017$9,850,358
27$17,179,271$6,314,518$523,968$10,340,785
28$18,038,234$6,632,334$550,166$10,855,733
29$18,940,146$6,966,042$577,674$11,396,430
30$19,887,153$7,316,434$606,558$11,964,161
Total$321,000,001$117,515,632$9,790,498$193,693,868

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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.