USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 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 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 $977,000,000 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, Mar 22, 2024
Jackpot:$977,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,705,252$5,399,131$448,510$8,857,611
2$15,440,515$5,671,178$470,936$9,298,401
3$16,212,540$5,956,828$494,482$9,761,230
4$17,023,168$6,256,760$519,207$10,247,201
5$17,874,325$6,571,688$545,167$10,757,470
6$18,768,042$6,902,363$572,425$11,293,253
7$19,706,445$7,249,572$601,047$11,855,826
8$20,691,767$7,614,141$631,099$12,446,526
9$21,726,355$7,996,939$662,654$13,066,762
10$22,812,673$8,398,877$695,787$13,718,009
11$23,953,306$8,820,911$730,576$14,401,819
12$25,150,972$9,264,047$767,105$15,119,820
13$26,408,520$9,729,340$805,460$15,873,720
14$27,728,946$10,217,898$845,733$16,665,316
15$29,115,393$10,730,883$888,019$17,496,491
16$30,571,163$11,269,518$932,420$18,369,225
17$32,099,721$11,835,084$979,041$19,285,595
18$33,704,707$12,428,929$1,027,994$20,247,784
19$35,389,942$13,052,466$1,079,393$21,258,083
20$37,159,440$13,707,180$1,133,363$22,318,896
21$39,017,411$14,394,630$1,190,031$23,432,750
22$40,968,282$15,116,452$1,249,533$24,602,297
23$43,016,696$15,874,365$1,312,009$25,830,322
24$45,167,531$16,670,174$1,377,610$27,119,747
25$47,425,907$17,505,773$1,446,490$28,473,644
26$49,797,203$18,383,153$1,518,815$29,895,236
27$52,287,064$19,304,401$1,594,755$31,387,907
28$54,901,416$20,271,712$1,674,493$32,955,211
29$57,646,487$21,287,388$1,758,218$34,600,881
30$60,528,812$22,353,848$1,846,129$36,328,835
Total$977,000,002$360,235,629$29,798,501$586,965,868

◄ 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.