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Indiana Mega Millions Jackpot Annuity Payout Schedule for Nov 12, 2024

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The tax information provided here is based on 2025 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 $361,000,000 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, Nov 12, 2024
Jackpot:$361,000,000
Federal Tax:37% marginal rate
State Tax: 3%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,433,568$1,967,440$163,007$3,303,121
2$5,705,247$2,067,961$171,157$3,466,128
3$5,990,509$2,173,508$179,715$3,637,285
4$6,290,034$2,284,333$188,701$3,817,000
5$6,604,536$2,400,698$198,136$4,005,701
6$6,934,763$2,522,882$208,043$4,203,837
7$7,281,501$2,651,176$218,445$4,411,880
8$7,645,576$2,785,883$229,367$4,630,325
9$8,027,855$2,927,327$240,836$4,859,693
10$8,429,247$3,075,842$252,877$5,100,528
11$8,850,710$3,231,783$265,521$5,353,406
12$9,293,245$3,395,521$278,797$5,618,927
13$9,757,908$3,567,446$292,737$5,897,724
14$10,245,803$3,747,967$307,374$6,190,462
15$10,758,093$3,937,515$322,743$6,497,836
16$11,295,998$4,136,539$338,880$6,820,579
17$11,860,798$4,345,515$355,824$7,159,458
18$12,453,838$4,564,940$373,615$7,515,282
19$13,076,529$4,795,336$392,296$7,888,897
20$13,730,356$5,037,252$411,911$8,281,193
21$14,416,874$5,291,263$432,506$8,693,104
22$15,137,717$5,557,976$454,132$9,125,610
23$15,894,603$5,838,023$476,838$9,579,742
24$16,689,333$6,132,074$500,680$10,056,580
25$17,523,800$6,440,826$525,714$10,557,260
26$18,399,990$6,765,017$552,000$11,082,974
27$19,319,990$7,105,416$579,600$11,634,974
28$20,285,989$7,462,836$608,580$12,214,573
29$21,300,288$7,838,127$639,009$12,823,153
30$22,365,303$8,232,182$670,959$13,462,162
Total$361,000,001$132,280,604$10,830,000$217,889,394

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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.