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Indiana Mega Millions Jackpot Annuity Payout Schedule for Jul 5, 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 $162,000,000 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, Jul 5, 2024
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$74,369$1,503,593
2$2,560,249$905,480$78,088$1,576,682
3$2,688,262$952,845$81,992$1,653,425
4$2,822,675$1,002,577$86,092$1,734,006
5$2,963,808$1,054,797$90,396$1,818,615
6$3,111,999$1,109,627$94,916$1,907,456
7$3,267,599$1,167,199$99,662$2,000,738
8$3,430,979$1,227,650$104,645$2,098,684
9$3,602,528$1,291,123$109,877$2,201,528
10$3,782,654$1,357,770$115,371$2,309,513
11$3,971,787$1,427,749$121,139$2,422,898
12$4,170,376$1,501,227$127,196$2,541,953
13$4,378,895$1,578,379$133,556$2,666,960
14$4,597,840$1,659,388$140,234$2,798,217
15$4,827,732$1,744,448$147,246$2,936,037
16$5,069,118$1,833,761$154,608$3,080,749
17$5,322,574$1,927,540$162,339$3,232,695
18$5,588,703$2,026,008$170,455$3,392,240
19$5,868,138$2,129,399$178,978$3,559,761
20$6,161,545$2,237,959$187,927$3,735,658
21$6,469,622$2,351,948$197,323$3,920,351
22$6,793,103$2,471,636$207,190$4,114,278
23$7,132,758$2,597,308$217,549$4,317,901
24$7,489,396$2,729,264$228,427$4,531,705
25$7,863,866$2,867,818$239,848$4,756,200
26$8,257,059$3,013,300$251,840$4,991,919
27$8,669,912$3,166,055$264,432$5,239,425
28$9,103,408$3,326,449$277,654$5,499,305
29$9,558,578$3,494,862$291,537$5,772,180
30$10,036,507$3,671,695$306,113$6,058,698
Total$162,000,000$58,685,632$4,940,999$98,373,370

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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.