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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 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 $47,000,000 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 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 4.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$35,300$447,418
2$742,788$237,787$37,065$467,937
3$779,928$251,528$38,918$489,481
4$818,924$265,957$40,864$512,103
5$859,870$281,107$42,908$535,856
6$902,864$297,015$45,053$560,796
7$948,007$313,718$47,306$586,984
8$995,407$331,256$49,671$614,481
9$1,045,178$349,671$52,154$643,353
10$1,097,437$369,007$54,762$673,668
11$1,152,308$389,309$57,500$705,499
12$1,209,924$410,627$60,375$738,922
13$1,270,420$433,010$63,394$774,016
14$1,333,941$456,513$66,564$810,864
15$1,400,638$481,191$69,892$849,555
16$1,470,670$507,103$73,386$890,181
17$1,544,204$534,310$77,056$932,837
18$1,621,414$562,878$80,909$977,627
19$1,702,484$592,874$84,954$1,024,656
20$1,787,609$624,370$89,202$1,074,037
21$1,876,989$657,441$93,662$1,125,886
22$1,970,839$692,165$98,345$1,180,328
23$2,069,380$728,626$103,262$1,237,493
24$2,172,849$766,909$108,425$1,297,515
25$2,281,492$807,107$113,846$1,360,538
26$2,395,567$849,315$119,539$1,426,713
27$2,515,345$893,633$125,516$1,496,197
28$2,641,112$940,166$131,791$1,569,154
29$2,773,168$989,027$138,381$1,645,760
30$2,911,826$1,040,331$145,300$1,726,195
Total$47,000,000$16,278,650$2,345,300$28,376,050

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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.