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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 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 $429,000,000 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:Fri, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,347,302$290,568$3,819,196
2$6,779,919$2,466,758$305,096$4,008,065
3$7,118,915$2,592,186$320,351$4,206,377
4$7,474,861$2,723,886$336,369$4,414,606
5$7,848,603$2,862,171$353,187$4,633,245
6$8,241,034$3,007,370$370,847$4,862,817
7$8,653,086$3,159,829$389,389$5,103,867
8$9,085,740$3,319,912$408,858$5,356,970
9$9,540,027$3,487,998$429,301$5,622,728
10$10,017,028$3,664,488$450,766$5,901,774
11$10,517,880$3,849,803$473,305$6,194,772
12$11,043,774$4,044,384$496,970$6,502,420
13$11,595,962$4,248,694$521,818$6,825,450
14$12,175,760$4,463,219$547,909$7,164,632
15$12,784,548$4,688,471$575,305$7,520,773
16$13,423,776$4,924,985$604,070$7,894,721
17$14,094,964$5,173,325$634,273$8,287,366
18$14,799,713$5,434,081$665,987$8,699,644
19$15,539,698$5,707,876$699,286$9,132,536
20$16,316,683$5,995,361$734,251$9,587,072
21$17,132,517$6,297,219$770,963$10,064,335
22$17,989,143$6,614,171$809,511$10,565,461
23$18,888,601$6,946,970$849,987$11,091,644
24$19,833,030$7,296,409$892,486$11,644,135
25$20,824,682$7,663,320$937,111$12,224,251
26$21,865,916$8,048,577$983,966$12,833,373
27$22,959,212$8,453,096$1,033,165$13,472,951
28$24,107,172$8,877,842$1,084,823$14,144,508
29$25,312,531$9,323,824$1,139,064$14,849,643
30$26,578,158$9,792,106$1,196,017$15,590,035
Total$429,000,001$157,475,633$19,304,999$252,219,367

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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.