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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jan 1, 2021

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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 $401,000,000 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, Jan 1, 2021
Jackpot:$401,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,035,625$2,191,369$184,087$3,660,170
2$6,337,407$2,303,028$193,291$3,841,088
3$6,654,277$2,420,270$202,955$4,031,051
4$6,986,991$2,543,374$213,103$4,230,513
5$7,336,340$2,672,634$223,758$4,439,948
6$7,703,157$2,808,356$234,946$4,659,855
7$8,088,316$2,950,865$246,694$4,890,757
8$8,492,731$3,100,498$259,028$5,133,205
9$8,917,368$3,257,614$271,980$5,387,774
10$9,363,236$3,422,585$285,579$5,655,072
11$9,831,398$3,595,805$299,858$5,935,735
12$10,322,968$3,777,686$314,851$6,230,431
13$10,839,116$3,968,661$330,593$6,539,862
14$11,381,072$4,169,184$347,123$6,864,765
15$11,950,126$4,379,734$364,479$7,205,913
16$12,547,632$4,600,812$382,703$7,564,118
17$13,175,013$4,832,943$401,838$7,940,233
18$13,833,764$5,076,680$421,930$8,335,154
19$14,525,452$5,332,605$443,026$8,749,821
20$15,251,725$5,601,326$465,178$9,185,221
21$16,014,311$5,883,483$488,436$9,642,392
22$16,815,027$6,179,748$512,858$10,122,421
23$17,655,778$6,490,826$538,501$10,626,451
24$18,538,567$6,817,457$565,426$11,155,683
25$19,465,495$7,160,421$593,698$11,711,377
26$20,438,770$7,520,533$623,382$12,294,855
27$21,460,709$7,898,650$654,552$12,907,507
28$22,533,744$8,295,673$687,279$13,550,792
29$23,660,431$8,712,547$721,643$14,226,241
30$24,843,453$9,150,265$757,725$14,935,462
Total$401,000,001$147,115,632$12,230,500$241,653,867

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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.