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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$37,930$534,897
2$885,024$285,647$39,826$559,552
3$929,276$302,020$41,817$585,438
4$975,739$319,211$43,908$612,620
5$1,024,526$337,262$46,104$641,160
6$1,075,753$356,216$48,409$671,128
7$1,129,540$376,118$50,829$702,593
8$1,186,017$397,014$53,371$735,632
9$1,245,318$418,955$56,039$770,323
10$1,307,584$441,994$58,841$806,749
11$1,372,963$466,184$61,783$844,996
12$1,441,611$491,584$64,873$885,155
13$1,513,692$518,254$68,116$927,322
14$1,589,377$546,257$71,522$971,598
15$1,668,845$575,661$75,098$1,018,087
16$1,752,288$606,534$78,853$1,066,901
17$1,839,902$638,952$82,796$1,118,155
18$1,931,897$672,990$86,935$1,171,972
19$2,028,492$708,730$91,282$1,228,480
20$2,129,917$746,257$95,846$1,287,814
21$2,236,413$785,660$100,639$1,350,114
22$2,348,233$827,034$105,670$1,415,529
23$2,465,645$870,476$110,954$1,484,214
24$2,588,927$916,091$116,502$1,556,335
25$2,718,373$963,986$122,327$1,632,061
26$2,854,292$1,014,276$128,443$1,711,573
27$2,997,007$1,067,080$134,865$1,795,061
28$3,146,857$1,122,525$141,609$1,882,724
29$3,304,200$1,180,742$148,689$1,974,769
30$3,469,410$1,241,869$156,123$2,071,417
Total$56,000,000$19,465,632$2,519,999$34,014,369

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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.