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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 2023

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The tax information provided here is based on 2025 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 $640,000,000 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 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 3%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,521,200$288,988$5,822,731
2$10,114,564$3,699,409$303,437$6,111,718
3$10,620,292$3,886,528$318,609$6,415,155
4$11,151,308$4,083,004$334,539$6,733,764
5$11,708,872$4,289,303$351,266$7,068,303
6$12,294,316$4,505,917$368,829$7,419,569
7$12,909,032$4,733,362$387,271$7,788,399
8$13,554,484$4,972,179$406,635$8,175,670
9$14,232,208$5,222,937$426,966$8,582,305
10$14,943,818$5,486,233$448,315$9,009,271
11$15,691,009$5,762,694$470,730$9,457,585
12$16,475,560$6,052,977$494,267$9,928,316
13$17,299,338$6,357,775$518,980$10,422,582
14$18,164,305$6,677,813$544,929$10,941,563
15$19,072,520$7,013,853$572,176$11,486,492
16$20,026,146$7,366,694$600,784$12,058,667
17$21,027,453$7,737,178$630,824$12,659,451
18$22,078,826$8,126,186$662,365$13,290,275
19$23,182,767$8,534,644$695,483$13,952,640
20$24,341,905$8,963,525$730,257$14,648,123
21$25,559,000$9,413,850$766,770$15,378,380
22$26,836,950$9,886,692$805,109$16,145,150
23$28,178,798$10,383,176$845,364$16,950,259
24$29,587,738$10,904,483$887,632$17,795,622
25$31,067,124$11,451,856$932,014$18,683,254
26$32,620,481$12,026,598$978,614$19,615,269
27$34,251,505$12,630,077$1,027,545$20,593,883
28$35,964,080$13,263,730$1,078,922$21,621,428
29$37,762,284$13,929,065$1,132,869$22,700,350
30$39,650,399$14,627,668$1,189,512$23,833,219
Total$640,000,001$235,510,606$19,200,001$385,289,393

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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.