USA Mega

North Carolina Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$15,804$205,320
2$316,080$85,172$16,594$214,314
3$331,884$90,704$17,424$223,757
4$348,478$96,512$18,295$233,672
5$365,902$102,610$19,210$244,082
6$384,197$109,013$20,170$255,014
7$403,407$115,737$21,179$266,492
8$423,578$122,796$22,238$278,543
9$444,757$130,209$23,350$291,198
10$466,994$137,992$24,517$304,485
11$490,344$146,165$25,743$318,436
12$514,861$154,746$27,030$333,085
13$540,604$164,096$28,382$348,127
14$567,635$174,097$29,801$363,737
15$596,016$184,598$31,291$380,127
16$625,817$195,625$32,855$397,337
17$657,108$207,202$34,498$415,408
18$689,963$219,359$36,223$434,382
19$724,461$232,123$38,034$454,304
20$760,685$245,526$39,936$475,223
21$798,719$259,598$41,933$497,188
22$838,655$274,374$44,029$520,251
23$880,587$289,890$46,231$544,467
24$924,617$306,180$48,542$569,894
25$970,848$323,286$50,970$596,592
26$1,019,390$341,247$53,518$624,625
27$1,070,360$360,105$56,194$654,060
28$1,123,878$379,907$59,004$684,967
29$1,180,071$400,699$61,954$717,419
30$1,239,075$422,530$65,051$751,494
Total$20,000,000$6,352,002$1,050,000$12,598,000

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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.