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Indiana Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 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 $510,000,000 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, Dec 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$234,125$4,643,713
2$8,060,044$2,940,404$245,831$4,873,808
3$8,463,046$3,089,515$258,123$5,115,408
4$8,886,198$3,246,081$271,029$5,369,088
5$9,330,508$3,410,476$284,580$5,635,452
6$9,797,033$3,583,090$298,810$5,915,134
7$10,286,885$3,764,335$313,750$6,208,800
8$10,801,229$3,954,643$329,437$6,517,149
9$11,341,291$4,154,465$345,909$6,840,916
10$11,908,355$4,364,279$363,205$7,180,871
11$12,503,773$4,584,584$381,365$7,537,824
12$13,128,962$4,815,904$400,433$7,912,625
13$13,785,410$5,058,789$420,455$8,306,165
14$14,474,680$5,313,819$441,478$8,719,383
15$15,198,414$5,581,601$463,552$9,153,262
16$15,958,335$5,862,772$486,729$9,608,834
17$16,756,251$6,158,001$511,066$10,087,185
18$17,594,064$6,467,991$536,619$10,589,454
19$18,473,767$6,793,482$563,450$11,116,836
20$19,397,456$7,135,246$591,622$11,670,587
21$20,367,328$7,494,099$621,204$12,252,026
22$21,385,695$7,870,895$652,264$12,862,536
23$22,454,980$8,266,530$684,877$13,503,573
24$23,577,728$8,681,947$719,121$14,176,660
25$24,756,615$9,118,135$755,077$14,883,403
26$25,994,446$9,576,133$792,831$15,625,483
27$27,294,168$10,057,030$832,472$16,404,666
28$28,658,876$10,561,972$874,096$17,222,809
29$30,091,820$11,092,161$917,801$18,081,858
30$31,596,411$11,648,860$963,691$18,983,861
Total$510,000,001$187,445,633$15,555,002$306,999,369

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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.