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North Carolina Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

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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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 5.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$265,507$2,956,508
2$5,310,146$1,928,826$278,783$3,102,537
3$5,575,654$2,027,064$292,722$3,255,868
4$5,854,436$2,130,214$307,358$3,416,865
5$6,147,158$2,238,521$322,726$3,585,911
6$6,454,516$2,352,243$338,862$3,763,411
7$6,777,242$2,471,652$355,805$3,949,785
8$7,116,104$2,597,031$373,595$4,145,478
9$7,471,909$2,728,679$392,275$4,350,955
10$7,845,505$2,866,909$411,889$4,566,707
11$8,237,780$3,012,051$432,483$4,793,246
12$8,649,669$3,164,450$454,108$5,031,112
13$9,082,152$3,324,469$476,813$5,280,871
14$9,536,260$3,492,488$500,654$5,543,118
15$10,013,073$3,668,909$525,686$5,818,477
16$10,513,727$3,854,151$551,971$6,107,605
17$11,039,413$4,048,655$579,569$6,411,189
18$11,591,383$4,252,884$608,548$6,729,952
19$12,170,953$4,467,325$638,975$7,064,653
20$12,779,500$4,692,487$670,924$7,416,089
21$13,418,475$4,928,908$704,470$7,785,097
22$14,089,399$5,177,150$739,693$8,172,556
23$14,793,869$5,437,804$776,678$8,579,387
24$15,533,562$5,711,490$815,512$9,006,560
25$16,310,240$5,998,861$856,288$9,455,092
26$17,125,753$6,300,601$899,102$9,926,050
27$17,982,040$6,617,427$944,057$10,420,556
28$18,881,142$6,950,095$991,260$10,939,787
29$19,825,199$7,299,396$1,040,823$11,484,980
30$20,816,459$7,666,162$1,092,864$12,057,433
Total$336,000,001$123,242,169$17,640,000$195,117,835

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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.