USA Mega

Indiana Mega Millions Jackpot Annuity Payout Schedule for Jun 14, 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 $47,000,000 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, Jun 14, 2024
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 3%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$218,765$21,223$467,430
2$742,788$231,852$22,284$488,653
3$779,928$245,594$23,398$510,936
4$818,924$260,022$24,568$534,334
5$859,870$275,172$25,796$558,902
6$902,864$291,080$27,086$584,698
7$948,007$307,783$28,440$611,784
8$995,407$325,321$29,862$640,224
9$1,045,178$343,736$31,355$670,086
10$1,097,437$363,072$32,923$701,442
11$1,152,308$383,374$34,569$734,365
12$1,209,924$404,692$36,298$768,934
13$1,270,420$427,076$38,113$805,232
14$1,333,941$450,578$40,018$843,344
15$1,400,638$475,256$42,019$883,363
16$1,470,670$501,168$44,120$925,382
17$1,544,204$528,376$46,326$969,502
18$1,621,414$556,943$48,642$1,015,828
19$1,702,484$586,939$51,075$1,064,470
20$1,787,609$618,435$53,628$1,115,545
21$1,876,989$651,506$56,310$1,169,173
22$1,970,839$686,231$59,125$1,225,483
23$2,069,380$722,691$62,081$1,284,608
24$2,172,849$760,975$65,185$1,346,689
25$2,281,492$801,172$68,445$1,411,875
26$2,395,567$843,380$71,867$1,480,320
27$2,515,345$887,698$75,460$1,552,187
28$2,641,112$934,232$79,233$1,627,647
29$2,773,168$983,092$83,195$1,706,880
30$2,911,826$1,034,396$87,355$1,790,075
Total$47,000,000$16,100,607$1,409,999$29,489,391

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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.