USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 25, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $820,000,000 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 25, 2023
Jackpot:$820,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,342,177$4,524,793$376,436$7,440,947
2$12,959,286$4,753,123$395,258$7,810,904
3$13,607,250$4,992,870$415,021$8,199,358
4$14,287,613$5,244,604$435,772$8,607,236
5$15,001,993$5,508,925$457,561$9,035,507
6$15,752,093$5,786,462$480,439$9,485,192
7$16,539,698$6,077,876$504,461$9,957,361
8$17,366,682$6,383,860$529,684$10,453,138
9$18,235,017$6,705,144$556,168$10,973,705
10$19,146,767$7,042,492$583,976$11,520,299
11$20,104,106$7,396,707$613,175$12,094,224
12$21,109,311$7,768,633$643,834$12,696,844
13$22,164,776$8,159,155$676,026$13,329,596
14$23,273,015$8,569,203$709,827$13,993,985
15$24,436,666$8,999,754$745,318$14,691,593
16$25,658,499$9,451,833$782,584$15,424,083
17$26,941,424$9,926,515$821,713$16,193,196
18$28,288,495$10,424,931$862,799$17,000,765
19$29,702,920$10,948,268$905,939$17,848,713
20$31,188,066$11,497,772$951,236$18,739,058
21$32,747,469$12,074,751$998,798$19,673,920
22$34,384,843$12,680,580$1,048,738$20,655,525
23$36,104,085$13,316,699$1,101,175$21,686,211
24$37,909,289$13,984,625$1,156,233$22,768,431
25$39,804,753$14,685,946$1,214,045$23,904,762
26$41,794,992$15,422,335$1,274,747$25,097,910
27$43,884,741$16,195,542$1,338,485$26,350,715
28$46,078,978$17,007,409$1,405,409$27,666,159
29$48,382,927$17,859,871$1,475,679$29,047,377
30$50,802,073$18,754,955$1,549,463$30,497,655
Total$820,000,002$302,145,633$25,009,999$492,844,369

◄ Back to Jackpot Analysis

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.