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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 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 $1,337,000,000 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 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,408,749$633,899$12,081,121
2$21,129,957$7,781,039$665,594$12,683,324
3$22,186,455$8,171,943$698,873$13,315,638
4$23,295,778$8,582,393$733,817$13,979,568
5$24,460,566$9,013,364$770,508$14,676,694
6$25,683,595$9,465,885$809,033$15,408,677
7$26,967,775$9,941,032$849,485$16,177,259
8$28,316,164$10,439,936$891,959$16,984,269
9$29,731,972$10,963,785$936,557$17,831,630
10$31,218,570$11,513,826$983,385$18,721,359
11$32,779,499$12,091,370$1,032,554$19,655,575
12$34,418,474$12,697,790$1,084,182$20,636,502
13$36,139,397$13,334,532$1,138,391$21,666,474
14$37,946,368$14,003,111$1,195,311$22,747,946
15$39,843,686$14,705,119$1,255,076$23,883,491
16$41,835,870$15,442,227$1,317,830$25,075,813
17$43,927,663$16,216,190$1,383,721$26,327,751
18$46,124,047$17,028,852$1,452,907$27,642,287
19$48,430,249$17,882,147$1,525,553$29,022,549
20$50,851,761$18,778,107$1,601,830$30,471,824
21$53,394,349$19,718,864$1,681,922$31,993,563
22$56,064,067$20,706,660$1,766,018$33,591,389
23$58,867,270$21,743,845$1,854,319$35,269,106
24$61,810,633$22,832,889$1,947,035$37,030,709
25$64,901,165$23,976,386$2,044,387$38,880,392
26$68,146,224$25,177,058$2,146,606$40,822,560
27$71,553,535$26,437,763$2,253,936$42,861,836
28$75,131,211$27,761,503$2,366,633$45,003,075
29$78,887,772$29,151,431$2,484,965$47,251,376
30$82,832,161$30,610,855$2,609,213$49,612,093
Total$1,337,000,003$493,578,651$42,115,499$801,305,850

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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.