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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 13, 2022

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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 $400,000,000 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:Tue, Dec 13, 2022
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$270,926$3,563,848
2$6,321,603$2,297,181$284,472$3,739,950
3$6,637,683$2,414,130$298,696$3,924,857
4$6,969,567$2,536,928$313,631$4,119,009
5$7,318,045$2,665,864$329,312$4,322,869
6$7,683,948$2,801,248$345,778$4,536,922
7$8,068,145$2,943,401$363,067$4,761,677
8$8,471,552$3,092,662$381,220$4,997,670
9$8,895,130$3,249,386$400,281$5,245,463
10$9,339,886$3,413,946$420,295$5,505,646
11$9,806,881$3,586,734$441,310$5,778,838
12$10,297,225$3,768,161$463,375$6,065,689
13$10,812,086$3,958,660$486,544$6,366,883
14$11,352,690$4,158,683$510,871$6,683,136
15$11,920,325$4,368,708$536,415$7,015,202
16$12,516,341$4,589,234$563,235$7,363,872
17$13,142,158$4,820,786$591,397$7,729,975
18$13,799,266$5,063,916$620,967$8,114,383
19$14,489,229$5,319,203$652,015$8,518,011
20$15,213,691$5,587,253$684,616$8,941,821
21$15,974,375$5,868,707$718,847$9,386,822
22$16,773,094$6,164,233$754,789$9,854,072
23$17,611,749$6,474,535$792,529$10,344,685
24$18,492,336$6,800,352$832,155$10,859,829
25$19,416,953$7,142,460$873,763$11,400,730
26$20,387,801$7,501,674$917,451$11,968,676
27$21,407,191$7,878,848$963,324$12,565,019
28$22,477,550$8,274,881$1,011,490$13,191,179
29$23,601,428$8,690,716$1,062,064$13,848,647
30$24,781,499$9,127,342$1,115,167$14,538,989
Total$400,000,001$146,745,632$18,000,002$235,254,369

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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.