USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$16,526$365,302
2$568,944$169,505$17,353$382,086
3$597,391$179,462$18,220$399,709
4$627,261$190,274$19,131$417,855
5$658,624$201,879$20,088$436,657
6$691,555$214,063$21,092$456,400
7$726,133$226,857$22,147$477,129
8$762,440$240,290$23,254$498,895
9$800,562$254,396$24,417$521,749
10$840,590$269,206$25,638$545,746
11$882,619$284,757$26,920$570,943
12$926,750$301,085$28,266$597,399
13$973,088$318,230$29,679$625,178
14$1,021,742$336,232$31,163$654,347
15$1,072,829$355,135$32,721$684,973
16$1,126,471$374,982$34,357$717,131
17$1,182,794$395,822$36,075$750,897
18$1,241,934$417,703$37,879$786,352
19$1,304,031$440,679$39,773$823,579
20$1,369,232$464,804$41,762$862,667
21$1,437,694$490,134$43,850$903,710
22$1,509,578$516,732$46,042$946,805
23$1,585,057$544,659$48,344$992,054
24$1,664,310$573,983$50,761$1,039,566
25$1,747,526$604,772$53,300$1,089,454
26$1,834,902$637,102$55,965$1,141,836
27$1,926,647$671,047$58,763$1,196,837
28$2,022,980$706,690$61,701$1,254,588
29$2,124,128$744,115$64,786$1,315,227
30$2,230,335$783,412$68,025$1,378,898
Total$36,000,000$12,068,030$1,097,998$22,833,969

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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.