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Indiana Mega Millions Jackpot Annuity Payout Schedule for Nov 25, 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 $284,000,000 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, Nov 25, 2022
Jackpot:$284,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,274,608$1,539,793$130,376$2,604,439
2$4,488,338$1,618,873$136,894$2,732,571
3$4,712,755$1,701,907$143,739$2,867,109
4$4,948,393$1,789,093$150,926$3,008,374
5$5,195,812$1,880,638$158,472$3,156,702
6$5,455,603$1,976,761$166,396$3,312,446
7$5,728,383$2,077,689$174,716$3,475,978
8$6,014,802$2,183,665$183,451$3,647,686
9$6,315,542$2,294,938$192,624$3,827,980
10$6,631,319$2,411,776$202,255$4,017,288
11$6,962,885$2,534,455$212,368$4,216,062
12$7,311,030$2,663,269$222,986$4,424,774
13$7,676,581$2,798,523$234,136$4,643,923
14$8,060,410$2,940,540$245,843$4,874,028
15$8,463,431$3,089,657$258,135$5,115,639
16$8,886,602$3,246,231$271,041$5,369,330
17$9,330,932$3,410,633$284,593$5,635,706
18$9,797,479$3,583,255$298,823$5,915,401
19$10,287,353$3,764,508$313,764$6,209,080
20$10,801,720$3,954,824$329,452$6,517,444
21$11,341,806$4,154,656$345,925$6,841,225
22$11,908,897$4,364,480$363,221$7,181,196
23$12,504,342$4,584,794$381,382$7,538,165
24$13,129,559$4,816,124$400,452$7,912,983
25$13,786,036$5,059,021$420,474$8,306,541
26$14,475,339$5,314,063$441,498$8,719,778
27$15,199,105$5,581,857$463,573$9,153,676
28$15,959,061$5,863,040$486,751$9,609,269
29$16,757,014$6,158,283$511,089$10,087,642
30$17,594,864$6,468,288$536,643$10,589,933
Total$284,000,001$103,825,634$8,661,998$171,512,368

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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.