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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 30, 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 $331,000,000 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, Jul 30, 2024
Jackpot:$331,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,982,025$1,801,537$151,952$3,028,536
2$5,231,126$1,893,704$159,549$3,177,872
3$5,492,683$1,990,480$167,527$3,334,675
4$5,767,317$2,092,095$175,903$3,499,319
5$6,055,682$2,198,790$184,698$3,672,194
6$6,358,467$2,310,820$193,933$3,853,713
7$6,676,390$2,428,452$203,630$4,044,308
8$7,010,210$2,551,965$213,811$4,244,433
9$7,360,720$2,681,654$224,502$4,454,564
10$7,728,756$2,817,827$235,727$4,675,201
11$8,115,194$2,960,809$247,513$4,906,871
12$8,520,954$3,110,941$259,889$5,150,124
13$8,947,001$3,268,578$272,884$5,405,539
14$9,394,351$3,434,098$286,528$5,673,726
15$9,864,069$3,607,893$300,854$5,955,321
16$10,357,272$3,790,379$315,897$6,250,997
17$10,875,136$3,981,988$331,692$6,561,456
18$11,418,893$4,183,178$348,276$6,887,438
19$11,989,837$4,394,428$365,690$7,229,720
20$12,589,329$4,616,240$383,975$7,589,115
21$13,218,795$4,849,142$403,173$7,966,480
22$13,879,735$5,093,690$423,332$8,362,714
23$14,573,722$5,350,465$444,499$8,778,759
24$15,302,408$5,620,079$466,723$9,215,606
25$16,067,528$5,903,173$490,060$9,674,296
26$16,870,905$6,200,423$514,563$10,155,920
27$17,714,450$6,512,534$540,291$10,661,625
28$18,600,173$6,840,252$567,305$11,192,616
29$19,530,181$7,184,355$595,671$11,750,156
30$20,506,691$7,545,663$625,454$12,335,573
Total$331,000,001$121,215,632$10,095,501$199,688,867

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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.