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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 11, 2013

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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 $55,000,000 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:Fri, Jan 11, 2013
Jackpot:$55,000,000
Federal Tax:37% marginal rate
State Tax: 4.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$269,252$41,309$517,269
2$869,220$284,567$43,374$541,280
3$912,681$300,647$45,543$566,491
4$958,315$317,532$47,820$592,964
5$1,006,231$335,261$50,211$620,760
6$1,056,543$353,876$52,721$649,945
7$1,109,370$373,422$55,358$680,591
8$1,164,838$393,945$58,125$712,768
9$1,223,080$415,495$61,032$746,554
10$1,284,234$438,122$64,083$782,029
11$1,348,446$461,880$67,287$819,279
12$1,415,868$486,826$70,652$858,390
13$1,486,662$513,020$74,184$899,458
14$1,560,995$540,523$77,894$942,578
15$1,639,045$569,402$81,788$987,855
16$1,720,997$599,724$85,878$1,035,395
17$1,807,047$631,562$90,172$1,085,313
18$1,897,399$664,993$94,680$1,137,726
19$1,992,269$700,095$99,414$1,192,760
20$2,091,882$736,952$104,385$1,250,546
21$2,196,477$775,651$109,604$1,311,221
22$2,306,300$816,286$115,084$1,374,930
23$2,421,615$858,953$120,839$1,441,824
24$2,542,696$903,753$126,881$1,512,063
25$2,669,831$950,792$133,225$1,585,814
26$2,803,323$1,000,184$139,886$1,663,252
27$2,943,489$1,052,046$146,880$1,744,563
28$3,090,663$1,106,500$154,224$1,829,939
29$3,245,196$1,163,678$161,935$1,919,583
30$3,407,456$1,223,714$170,032$2,013,710
Total$55,000,000$19,238,653$2,744,500$33,016,850

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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.