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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 2022

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The tax information provided here is based on 2022 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 $830,000,000 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, Jul 26, 2022
Jackpot:$830,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,492,691$4,585,251$393,520$7,513,921
2$13,117,326$4,816,366$413,196$7,887,764
3$13,773,192$5,059,036$433,856$8,280,300
4$14,461,852$5,313,840$455,548$8,692,463
5$15,184,944$5,581,384$478,326$9,125,234
6$15,944,191$5,862,306$502,242$9,579,643
7$16,741,401$6,157,273$527,354$10,056,774
8$17,578,471$6,466,989$553,722$10,557,760
9$18,457,395$6,792,191$581,408$11,083,796
10$19,380,264$7,133,653$610,478$11,636,133
11$20,349,278$7,492,188$641,002$12,216,088
12$21,366,741$7,868,649$673,052$12,825,040
13$22,435,078$8,263,934$706,705$13,464,439
14$23,556,833$8,678,983$742,040$14,135,809
15$24,734,674$9,114,784$779,142$14,840,747
16$25,971,408$9,572,376$818,099$15,580,933
17$27,269,978$10,052,847$859,004$16,358,127
18$28,633,477$10,557,341$901,955$17,174,181
19$30,065,151$11,087,061$947,052$18,031,038
20$31,568,408$11,643,266$994,405$18,930,737
21$33,146,829$12,227,282$1,044,125$19,875,422
22$34,804,170$12,840,498$1,096,331$20,867,341
23$36,544,379$13,484,375$1,151,148$21,908,856
24$38,371,597$14,160,446$1,208,705$23,002,446
25$40,290,177$14,870,321$1,269,141$24,150,716
26$42,304,687$15,615,689$1,332,598$25,356,400
27$44,419,921$16,398,326$1,399,228$26,622,368
28$46,640,916$17,220,094$1,469,189$27,951,633
29$48,972,962$18,082,951$1,542,648$29,347,363
30$51,421,611$18,988,951$1,619,781$30,812,879
Total$830,000,002$305,988,651$26,145,000$497,866,351

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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.