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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 20, 2022

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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 $465,000,000 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 20, 2022
Jackpot:$465,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,998,917$2,552,554$332,449$4,113,914
2$7,348,863$2,682,034$349,071$4,317,758
3$7,716,306$2,817,988$366,525$4,531,793
4$8,102,122$2,960,740$384,851$4,756,531
5$8,507,228$3,110,629$404,093$4,992,505
6$8,932,589$3,268,013$424,298$5,240,278
7$9,379,219$3,433,266$445,513$5,500,440
8$9,848,180$3,606,781$467,789$5,773,610
9$10,340,589$3,788,973$491,178$6,060,438
10$10,857,618$3,980,274$515,737$6,361,607
11$11,400,499$4,181,140$541,524$6,677,836
12$11,970,524$4,392,049$568,600$7,009,875
13$12,569,050$4,613,503$597,030$7,358,517
14$13,197,503$4,846,031$626,881$7,724,590
15$13,857,378$5,090,185$658,225$8,108,967
16$14,550,247$5,346,546$691,137$8,512,564
17$15,277,759$5,615,726$725,694$8,936,339
18$16,041,647$5,898,364$761,978$9,381,304
19$16,843,729$6,195,135$800,077$9,848,517
20$17,685,916$6,506,744$840,081$10,339,091
21$18,570,211$6,833,933$882,085$10,854,193
22$19,498,722$7,177,482$926,189$11,395,050
23$20,473,658$7,538,208$972,499$11,962,951
24$21,497,341$7,916,971$1,021,124$12,559,246
25$22,572,208$8,314,672$1,072,180$13,185,356
26$23,700,818$8,732,258$1,125,789$13,842,772
27$24,885,859$9,170,723$1,182,078$14,533,058
28$26,130,152$9,631,111$1,241,182$15,257,858
29$27,436,660$10,114,519$1,303,241$16,018,899
30$28,808,493$10,622,097$1,368,403$16,817,992
Total$465,000,001$170,938,649$22,087,501$271,973,849

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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.