USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 28, 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 $940,000,000 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, Jul 28, 2023
Jackpot:$940,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,148,349$5,193,077$431,525$8,523,747
2$14,855,767$5,454,821$453,101$8,947,844
3$15,598,555$5,729,653$475,756$9,393,146
4$16,378,483$6,018,226$499,544$9,860,713
5$17,197,406$6,321,228$524,521$10,351,657
6$18,057,277$6,639,380$550,747$10,867,150
7$18,960,141$6,973,440$578,284$11,408,417
8$19,908,148$7,324,203$607,199$11,976,747
9$20,903,556$7,692,503$637,558$12,573,494
10$21,948,733$8,079,219$669,436$13,200,078
11$23,046,170$8,485,271$702,908$13,857,991
12$24,198,478$8,911,625$738,054$14,548,800
13$25,408,402$9,359,297$774,956$15,274,149
14$26,678,822$9,829,352$813,704$16,035,766
15$28,012,763$10,322,910$854,389$16,835,464
16$29,413,402$10,841,146$897,109$17,675,147
17$30,884,071$11,385,294$941,964$18,556,813
18$32,428,275$11,956,650$989,062$19,482,563
19$34,049,689$12,556,573$1,038,516$20,454,601
20$35,752,173$13,186,492$1,090,441$21,475,240
21$37,539,782$13,847,907$1,144,963$22,546,911
22$39,416,771$14,542,393$1,202,212$23,672,166
23$41,387,610$15,271,603$1,262,322$24,853,684
24$43,456,990$16,037,274$1,325,438$26,094,278
25$45,629,839$16,841,228$1,391,710$27,396,901
26$47,911,332$17,685,381$1,461,296$28,764,656
27$50,306,898$18,571,740$1,534,360$30,200,798
28$52,822,243$19,502,417$1,611,078$31,708,747
29$55,463,355$20,479,629$1,691,632$33,292,093
30$58,236,523$21,505,701$1,776,214$34,954,608
Total$940,000,002$346,545,633$28,669,999$564,784,369

◄ 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.