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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 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 $525,000,000 for a ticket purchased in North Carolina, 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:

North Carolina

Drawing Date:Fri, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,881,929$355,590$4,664,484
2$8,297,104$3,028,116$373,370$4,895,618
3$8,711,959$3,181,612$392,038$5,138,308
4$9,147,557$3,342,784$411,640$5,393,133
5$9,604,934$3,512,013$432,222$5,660,699
6$10,085,181$3,689,705$453,833$5,941,643
7$10,589,441$3,876,281$476,525$6,236,635
8$11,118,913$4,072,185$500,351$6,546,376
9$11,674,858$4,277,885$525,369$6,871,604
10$12,258,601$4,493,870$551,637$7,213,094
11$12,871,531$4,720,654$579,219$7,571,658
12$13,515,108$4,958,778$608,180$7,948,150
13$14,190,863$5,208,807$638,589$8,343,467
14$14,900,406$5,471,338$670,518$8,758,550
15$15,645,426$5,746,995$704,044$9,194,387
16$16,427,698$6,036,436$739,246$9,652,015
17$17,249,082$6,340,348$776,209$10,132,525
18$18,111,537$6,659,456$815,019$10,637,061
19$19,017,113$6,994,520$855,770$11,166,824
20$19,967,969$7,346,336$898,559$11,723,074
21$20,966,367$7,715,744$943,487$12,307,137
22$22,014,686$8,103,622$990,661$12,920,403
23$23,115,420$8,510,893$1,040,194$13,564,333
24$24,271,191$8,938,528$1,092,204$14,240,459
25$25,484,751$9,387,545$1,146,814$14,950,391
26$26,758,989$9,859,014$1,204,154$15,695,821
27$28,096,938$10,354,055$1,264,362$16,478,521
28$29,501,784$10,873,848$1,327,580$17,300,356
29$30,976,874$11,419,631$1,393,959$18,163,283
30$32,525,718$11,992,703$1,463,657$19,069,357
Total$525,000,001$192,995,631$23,625,000$308,379,366

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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.