USA Mega

North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 2, 1998

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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 $10,000,000 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, Jan 2, 1998
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$6,773$114,575
2$158,040$30,972$7,112$119,956
3$165,942$32,869$7,467$125,606
4$174,239$34,860$7,841$131,539
5$182,951$36,951$8,233$137,768
6$192,099$39,158$8,644$144,296
7$201,704$42,232$9,077$150,395
8$211,789$45,459$9,530$156,799
9$222,378$48,848$10,007$163,524
10$233,497$52,406$10,507$170,584
11$245,172$56,185$11,033$177,954
12$257,431$60,475$11,584$185,371
13$270,302$64,981$12,164$193,158
14$283,817$69,711$12,772$201,335
15$298,008$74,678$13,410$209,920
16$312,909$79,893$14,081$218,935
17$328,554$85,369$14,785$228,400
18$344,982$91,118$15,524$238,339
19$362,231$97,156$16,300$248,775
20$380,342$103,495$17,115$259,732
21$399,359$110,151$17,971$271,238
22$419,327$117,139$18,870$283,318
23$440,294$124,478$19,813$296,003
24$462,308$132,183$20,804$309,322
25$485,424$140,273$21,844$323,307
26$509,695$148,768$22,936$337,991
27$535,180$157,688$24,083$353,409
28$561,939$167,053$25,287$369,598
29$590,036$176,887$26,552$386,597
30$619,537$187,417$27,879$404,242
Total$10,000,000$2,638,019$449,998$6,911,986

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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.