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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jan 13, 2023

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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 $1,348,000,000 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, Jan 13, 2023
Jackpot:$1,348,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,289,334$7,470,009$639,114$12,180,212
2$21,303,801$7,845,362$671,070$12,787,370
3$22,368,991$8,239,482$704,623$13,424,886
4$23,487,441$8,653,308$739,854$14,094,279
5$24,661,812$9,087,826$776,847$14,797,140
6$25,894,903$9,544,069$815,689$15,535,145
7$27,189,649$10,023,125$856,474$16,310,050
8$28,549,132$10,526,134$899,298$17,123,700
9$29,976,588$11,054,293$944,263$17,978,033
10$31,475,417$11,608,859$991,476$18,875,082
11$33,049,188$12,191,155$1,041,049$19,816,984
12$34,701,648$12,802,565$1,093,102$20,805,981
13$36,436,730$13,444,545$1,147,757$21,844,428
14$38,258,567$14,118,625$1,205,145$22,934,797
15$40,171,495$14,826,408$1,265,402$24,079,685
16$42,180,070$15,569,581$1,328,672$25,281,817
17$44,289,072$16,349,912$1,395,106$26,544,055
18$46,503,526$17,169,260$1,464,861$27,869,406
19$48,828,702$18,029,575$1,538,104$29,261,023
20$51,270,138$18,932,906$1,615,009$30,722,223
21$53,833,644$19,881,403$1,695,760$32,256,481
22$56,525,327$20,877,326$1,780,548$33,867,453
23$59,351,593$21,923,045$1,869,575$35,558,974
24$62,319,172$23,021,049$1,963,054$37,335,070
25$65,435,131$24,173,953$2,061,207$39,199,971
26$68,706,889$25,384,504$2,164,267$41,158,118
27$72,142,233$26,655,581$2,272,480$43,214,171
28$75,749,344$27,990,212$2,386,104$45,373,027
29$79,536,811$29,391,575$2,505,410$47,639,826
30$83,513,652$30,863,006$2,630,680$50,019,966
Total$1,348,000,003$497,648,653$42,462,000$807,889,353

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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.