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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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The tax information provided here is based on 2022 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 $31,000,000 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 prize money, as well as deductions claimed.

State:

North Carolina

Drawing Date:Tue, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$22,163$307,370
2$489,924$145,226$23,271$321,426
3$514,420$153,800$24,435$336,185
4$540,141$162,807$25,657$351,677
5$567,149$172,800$26,940$367,409
6$595,506$183,292$28,287$383,927
7$625,281$194,309$29,701$401,271
8$656,545$205,877$31,186$419,483
9$689,373$218,023$32,745$438,605
10$723,841$230,776$34,382$458,682
11$760,033$244,167$36,102$479,764
12$798,035$258,228$37,907$501,900
13$837,937$272,992$39,802$525,143
14$879,834$288,493$41,792$549,548
15$923,825$304,770$43,882$575,173
16$970,016$321,861$46,076$602,080
17$1,018,517$339,806$48,380$630,331
18$1,069,443$358,649$50,799$659,996
19$1,122,915$378,434$53,338$691,143
20$1,179,061$399,208$56,005$723,848
21$1,238,014$421,020$58,806$758,188
22$1,299,915$443,923$61,746$794,245
23$1,364,911$467,972$64,833$832,105
24$1,433,156$493,223$68,075$871,858
25$1,504,814$519,736$71,479$913,599
26$1,580,055$547,575$75,053$957,427
27$1,659,057$576,806$78,805$1,003,446
28$1,742,010$607,499$82,745$1,051,766
29$1,829,111$639,726$86,883$1,102,502
30$1,920,566$673,564$91,227$1,155,775
Total$31,000,000$10,361,623$1,472,502$19,165,872

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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.