USA Mega

North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 1997

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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 $16,000,000 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, Jun 13, 1997
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$10,837$175,236
2$252,864$58,877$11,379$182,608
3$265,507$63,302$11,948$190,257
4$278,783$67,949$12,545$198,289
5$292,722$72,827$13,172$206,722
6$307,358$77,950$13,831$215,577
7$322,726$83,329$14,523$224,874
8$338,862$88,976$15,249$234,637
9$355,805$94,907$16,011$244,887
10$373,595$101,133$16,812$255,651
11$392,275$107,671$17,652$266,952
12$411,889$114,536$18,535$278,818
13$432,483$121,744$19,462$291,278
14$454,108$129,312$20,435$304,360
15$476,813$137,259$21,457$318,097
16$500,654$145,604$22,529$332,521
17$525,686$154,365$23,656$347,665
18$551,971$163,564$24,839$363,567
19$579,569$173,224$26,081$380,265
20$608,548$183,366$27,385$397,797
21$638,975$194,609$28,754$415,613
22$670,924$206,430$30,192$434,303
23$704,470$218,842$31,701$453,927
24$739,693$231,874$33,286$474,533
25$776,678$245,559$34,951$496,169
26$815,512$259,927$36,698$518,887
27$856,288$275,014$38,533$542,741
28$899,102$290,855$40,460$567,787
29$944,057$307,489$42,483$594,086
30$991,260$324,954$44,607$621,699
Total$16,000,000$4,750,198$720,003$10,529,803

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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.