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Indiana Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 2022

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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 $87,000,000 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 1, 2022
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,309,475$442,693$39,939$826,842
2$1,374,949$466,919$41,936$866,094
3$1,443,696$492,355$44,033$907,308
4$1,515,881$519,064$46,234$950,583
5$1,591,675$547,107$48,546$996,021
6$1,671,259$576,553$50,973$1,043,732
7$1,754,822$607,472$53,522$1,093,828
8$1,842,563$639,936$56,198$1,146,429
9$1,934,691$674,023$59,008$1,201,659
10$2,031,425$709,815$61,958$1,259,652
11$2,132,997$747,396$65,056$1,320,544
12$2,239,646$786,857$68,309$1,384,480
13$2,351,629$828,290$71,725$1,451,614
14$2,469,210$871,796$75,311$1,522,104
15$2,592,671$917,476$79,076$1,596,118
16$2,722,304$965,440$83,030$1,673,834
17$2,858,419$1,015,803$87,182$1,755,435
18$3,001,340$1,068,684$91,541$1,841,116
19$3,151,407$1,124,208$96,118$1,931,081
20$3,308,978$1,182,510$100,924$2,025,544
21$3,474,427$1,243,726$105,970$2,124,731
22$3,648,148$1,308,002$111,269$2,228,877
23$3,830,555$1,375,493$116,832$2,338,230
24$4,022,083$1,446,358$122,674$2,453,051
25$4,223,187$1,520,767$128,807$2,573,613
26$4,434,347$1,598,896$135,248$2,700,203
27$4,656,064$1,680,931$142,010$2,833,123
28$4,888,867$1,767,069$149,110$2,972,688
29$5,133,311$1,857,513$156,566$3,119,232
30$5,389,976$1,952,479$164,394$3,273,103
Total$87,000,000$30,935,631$2,653,499$53,410,869

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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.