USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Feb 6, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $365,000,000 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, Feb 6, 2024
Jackpot:$365,000,000
Federal Tax:37% marginal rate
State Tax: 3%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,493,774$1,989,717$164,813$3,339,244
2$5,768,463$2,091,351$173,054$3,504,057
3$6,056,886$2,198,068$181,707$3,677,111
4$6,359,730$2,310,120$190,792$3,858,818
5$6,677,716$2,427,775$200,331$4,049,609
6$7,011,602$2,551,313$210,348$4,249,941
7$7,362,182$2,681,028$220,865$4,460,289
8$7,730,292$2,817,228$231,909$4,681,155
9$8,116,806$2,960,239$243,504$4,913,063
10$8,522,646$3,110,399$255,679$5,156,568
11$8,948,779$3,268,068$268,463$5,412,247
12$9,396,218$3,433,621$281,887$5,680,710
13$9,866,028$3,607,451$295,981$5,962,597
14$10,359,330$3,789,972$310,780$6,258,578
15$10,877,296$3,981,620$326,319$6,569,358
16$11,421,161$4,182,850$342,635$6,895,677
17$11,992,219$4,394,141$359,767$7,238,311
18$12,591,830$4,615,997$377,755$7,598,078
19$13,221,422$4,848,946$396,643$7,975,833
20$13,882,493$5,093,543$416,475$8,372,475
21$14,576,617$5,350,369$437,299$8,788,950
22$15,305,448$5,620,036$459,163$9,226,249
23$16,070,721$5,903,187$482,122$9,685,412
24$16,874,257$6,200,495$506,228$10,167,534
25$17,717,969$6,512,669$531,539$10,673,761
26$18,603,868$6,840,451$558,116$11,205,301
27$19,534,062$7,184,623$586,022$11,763,417
28$20,510,764$7,546,003$615,323$12,349,438
29$21,536,303$7,925,452$646,089$12,964,761
30$22,613,118$8,323,874$678,394$13,610,851
Total$365,000,001$133,760,606$10,950,002$220,289,393

◄ 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.