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Indiana Mega Millions Jackpot Annuity Payout Schedule for Oct 4, 2024

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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 $108,000,000 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, Oct 4, 2024
Jackpot:$108,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,625,555$559,643$49,579$1,016,332
2$1,706,833$589,716$52,058$1,065,058
3$1,792,174$621,292$54,661$1,116,221
4$1,881,783$654,448$57,394$1,169,941
5$1,975,872$689,260$60,264$1,226,348
6$2,074,666$725,814$63,277$1,285,574
7$2,178,399$764,195$66,441$1,347,763
8$2,287,319$804,496$69,763$1,413,060
9$2,401,685$846,811$73,251$1,481,622
10$2,521,769$891,242$76,914$1,553,613
11$2,647,858$937,895$80,760$1,629,203
12$2,780,251$986,881$84,798$1,708,573
13$2,919,263$1,038,315$89,038$1,791,911
14$3,065,226$1,092,322$93,489$1,879,415
15$3,218,488$1,149,028$98,164$1,971,296
16$3,379,412$1,208,570$103,072$2,067,770
17$3,548,383$1,271,089$108,226$2,169,068
18$3,725,802$1,336,734$113,637$2,275,430
19$3,912,092$1,405,662$119,319$2,387,111
20$4,107,697$1,478,035$125,285$2,504,376
21$4,313,081$1,554,028$131,549$2,627,504
22$4,528,735$1,633,820$138,126$2,756,789
23$4,755,172$1,717,601$145,033$2,892,538
24$4,992,931$1,805,572$152,284$3,035,074
25$5,242,577$1,897,941$159,899$3,184,737
26$5,504,706$1,994,929$167,894$3,341,884
27$5,779,942$2,096,766$176,288$3,506,887
28$6,068,939$2,203,695$185,103$3,680,141
29$6,372,385$2,315,970$194,358$3,862,057
30$6,691,005$2,433,860$204,076$4,053,070
Total$108,000,000$38,705,630$3,294,000$66,000,366

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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.