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Indiana Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 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 $355,000,000 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, Sep 30, 2022
Jackpot:$355,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,343,259$1,939,961$168,313$3,234,986
2$5,610,422$2,038,811$176,728$3,394,883
3$5,890,943$2,142,604$185,565$3,562,775
4$6,185,491$2,251,587$194,843$3,739,061
5$6,494,765$2,366,018$204,585$3,924,162
6$6,819,503$2,486,171$214,814$4,118,518
7$7,160,479$2,612,332$225,555$4,322,592
8$7,518,503$2,744,801$236,833$4,536,869
9$7,894,428$2,883,893$248,674$4,761,860
10$8,289,149$3,029,940$261,108$4,998,101
11$8,703,607$3,183,289$274,164$5,246,154
12$9,138,787$3,344,306$287,872$5,506,609
13$9,595,726$3,513,374$302,265$5,780,087
14$10,075,513$3,690,895$317,379$6,067,239
15$10,579,288$3,877,292$333,248$6,368,749
16$11,108,253$4,073,009$349,910$6,685,334
17$11,663,665$4,278,511$367,405$7,017,749
18$12,246,849$4,494,289$385,776$7,366,784
19$12,859,191$4,720,856$405,065$7,733,271
20$13,502,151$4,958,751$425,318$8,118,082
21$14,177,258$5,208,540$446,584$8,522,134
22$14,886,121$5,470,820$468,913$8,946,388
23$15,630,427$5,746,213$492,358$9,391,856
24$16,411,948$6,035,376$516,976$9,859,596
25$17,232,546$6,338,997$542,825$10,350,724
26$18,094,173$6,657,799$569,966$10,866,408
27$18,998,882$6,992,541$598,465$11,407,876
28$19,948,826$7,344,020$628,388$11,976,417
29$20,946,267$7,713,074$659,807$12,573,386
30$21,993,581$8,100,580$692,798$13,200,203
Total$355,000,001$130,238,650$11,182,500$213,578,853

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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.