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Indiana Mega Millions Jackpot Annuity Payout Schedule for Sep 19, 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 $183,000,000 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, Sep 19, 2023
Jackpot:$183,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,754,413$977,320$84,010$1,693,083
2$2,892,133$1,028,277$88,210$1,775,646
3$3,036,740$1,081,782$92,621$1,862,338
4$3,188,577$1,137,961$97,252$1,953,364
5$3,348,006$1,196,950$102,114$2,048,942
6$3,515,406$1,258,888$107,220$2,149,298
7$3,691,176$1,323,923$112,581$2,254,673
8$3,875,735$1,392,210$118,210$2,365,316
9$4,069,522$1,463,911$124,120$2,481,491
10$4,272,998$1,539,197$130,326$2,603,475
11$4,486,648$1,618,247$136,843$2,731,558
12$4,710,980$1,701,250$143,685$2,866,045
13$4,946,529$1,788,404$150,869$3,007,257
14$5,193,856$1,879,914$158,413$3,155,529
15$5,453,549$1,976,001$166,333$3,311,215
16$5,726,226$2,076,891$174,650$3,474,685
17$6,012,537$2,182,827$183,382$3,646,328
18$6,313,164$2,294,059$192,552$3,826,554
19$6,628,822$2,410,852$202,179$4,015,791
20$6,960,264$2,533,485$212,288$4,214,490
21$7,308,277$2,662,250$222,902$4,423,124
22$7,673,691$2,797,453$234,048$4,642,190
23$8,057,375$2,939,417$245,750$4,872,209
24$8,460,244$3,088,478$258,037$5,113,728
25$8,883,256$3,244,992$270,939$5,367,324
26$9,327,419$3,409,333$284,486$5,633,600
27$9,793,790$3,581,890$298,711$5,913,189
28$10,283,479$3,763,075$313,646$6,206,758
29$10,797,653$3,953,319$329,328$6,515,005
30$11,337,536$4,153,076$345,795$6,838,665
Total$183,000,000$66,455,632$5,581,500$110,962,870

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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.