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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 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 $1,337,000,000 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, Jul 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,408,749$955,879$11,759,140
2$21,129,957$7,781,039$1,003,673$12,345,245
3$22,186,455$8,171,943$1,053,857$12,960,655
4$23,295,778$8,582,393$1,106,549$13,606,836
5$24,460,566$9,013,364$1,161,877$14,285,325
6$25,683,595$9,465,885$1,219,971$14,997,739
7$26,967,775$9,941,032$1,280,969$15,745,774
8$28,316,164$10,439,936$1,345,018$16,531,210
9$29,731,972$10,963,785$1,412,269$17,355,919
10$31,218,570$11,513,826$1,482,882$18,221,862
11$32,779,499$12,091,370$1,557,026$19,131,103
12$34,418,474$12,697,790$1,634,878$20,085,806
13$36,139,397$13,334,532$1,716,621$21,088,244
14$37,946,368$14,003,111$1,802,452$22,140,804
15$39,843,686$14,705,119$1,892,575$23,245,992
16$41,835,870$15,442,227$1,987,204$24,406,440
17$43,927,663$16,216,190$2,086,564$25,624,909
18$46,124,047$17,028,852$2,190,892$26,904,302
19$48,430,249$17,882,147$2,300,437$28,247,665
20$50,851,761$18,778,107$2,415,459$29,658,196
21$53,394,349$19,718,864$2,536,232$31,139,253
22$56,064,067$20,706,660$2,663,043$32,694,364
23$58,867,270$21,743,845$2,796,195$34,327,230
24$61,810,633$22,832,889$2,936,005$36,041,739
25$64,901,165$23,976,386$3,082,805$37,841,973
26$68,146,224$25,177,058$3,236,946$39,732,221
27$71,553,535$26,437,763$3,398,793$41,716,979
28$75,131,211$27,761,503$3,568,733$43,800,975
29$78,887,772$29,151,431$3,747,169$45,989,172
30$82,832,161$30,610,855$3,934,528$48,286,779
Total$1,337,000,003$493,578,651$63,507,501$779,913,851

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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.