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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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The tax information provided here is based on 2021 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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 3.23%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$68,063$1,295,402
2$2,212,561$782,720$71,466$1,358,375
3$2,323,189$823,652$75,039$1,424,498
4$2,439,349$866,631$78,791$1,493,926
5$2,561,316$911,759$82,731$1,566,826
6$2,689,382$959,143$86,867$1,643,371
7$2,823,851$1,008,897$91,210$1,723,743
8$2,965,043$1,061,138$95,771$1,808,134
9$3,113,296$1,115,992$100,559$1,896,744
10$3,268,960$1,173,588$105,587$1,989,785
11$3,432,408$1,234,063$110,867$2,087,478
12$3,604,029$1,297,563$116,410$2,190,056
13$3,784,230$1,364,237$122,231$2,297,762
14$3,973,442$1,434,246$128,342$2,410,854
15$4,172,114$1,507,754$134,759$2,529,600
16$4,380,719$1,584,938$141,497$2,654,284
17$4,599,755$1,665,982$148,572$2,785,201
18$4,829,743$1,751,077$156,001$2,922,665
19$5,071,230$1,840,427$163,801$3,067,002
20$5,324,792$1,934,245$171,991$3,218,556
21$5,591,031$2,032,754$180,590$3,377,687
22$5,870,583$2,136,188$189,620$3,544,775
23$6,164,112$2,244,794$199,101$3,720,218
24$6,472,318$2,358,830$209,056$3,904,432
25$6,795,933$2,478,568$219,509$4,097,857
26$7,135,730$2,604,292$230,484$4,300,954
27$7,492,517$2,736,303$242,008$4,514,205
28$7,867,143$2,874,915$254,109$4,738,119
29$8,260,500$3,020,457$266,814$4,973,228
30$8,673,525$3,173,276$280,155$5,220,093
Total$140,000,000$50,722,166$4,522,001$84,755,830

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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.