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

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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 $260,000,000 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, Jun 13, 2023
Jackpot:$260,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,913,373$1,406,136$119,358$2,387,879
2$4,109,042$1,478,533$125,326$2,505,183
3$4,314,494$1,554,550$131,592$2,628,351
4$4,530,219$1,634,369$138,172$2,757,678
5$4,756,729$1,718,178$145,080$2,893,472
6$4,994,566$1,806,177$152,334$3,036,055
7$5,244,294$1,898,577$159,951$3,185,767
8$5,506,509$1,995,596$167,949$3,342,964
9$5,781,835$2,097,467$176,346$3,508,022
10$6,070,926$2,204,430$185,163$3,681,332
11$6,374,473$2,316,743$194,421$3,863,309
12$6,693,196$2,434,670$204,142$4,054,383
13$7,027,856$2,558,494$214,350$4,255,012
14$7,379,249$2,688,510$225,067$4,465,672
15$7,748,211$2,825,026$236,320$4,686,865
16$8,135,622$2,968,368$248,136$4,919,118
17$8,542,403$3,118,877$260,543$5,162,983
18$8,969,523$3,276,911$273,570$5,419,041
19$9,417,999$3,442,847$287,249$5,687,903
20$9,888,899$3,617,080$301,611$5,970,207
21$10,383,344$3,800,025$316,692$6,266,627
22$10,902,511$3,992,117$332,527$6,577,868
23$11,447,637$4,193,813$349,153$6,904,670
24$12,020,018$4,405,595$366,611$7,247,813
25$12,621,019$4,627,965$384,941$7,608,113
26$13,252,071$4,861,454$404,188$7,986,429
27$13,914,674$5,106,617$424,398$8,383,659
28$14,610,408$5,364,039$445,617$8,800,752
29$15,340,928$5,634,331$467,898$9,238,699
30$16,107,974$5,918,138$491,293$9,698,543
Total$260,000,001$94,945,633$7,929,998$157,124,369

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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.