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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 2023

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The tax information provided here is based on 2025 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 $360,000,000 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, Oct 6, 2023
Jackpot:$360,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,418,517$1,961,871$230,287$3,226,358
2$5,689,443$2,062,114$241,801$3,385,527
3$5,973,915$2,167,369$253,891$3,552,655
4$6,272,610$2,277,886$266,586$3,728,138
5$6,586,241$2,393,929$279,915$3,912,396
6$6,915,553$2,515,775$293,911$4,105,867
7$7,261,331$2,643,713$308,607$4,309,012
8$7,624,397$2,778,047$324,037$4,522,313
9$8,005,617$2,919,099$340,239$4,746,280
10$8,405,898$3,067,202$357,251$4,981,445
11$8,826,193$3,222,712$375,113$5,228,368
12$9,267,502$3,385,996$393,869$5,487,637
13$9,730,877$3,557,445$413,562$5,759,870
14$10,217,421$3,737,466$434,240$6,045,715
15$10,728,292$3,926,488$455,952$6,345,851
16$11,264,707$4,124,962$478,750$6,660,995
17$11,827,942$4,333,359$502,688$6,991,896
18$12,419,339$4,552,176$527,822$7,339,342
19$13,040,306$4,781,934$554,213$7,704,160
20$13,692,322$5,023,179$581,924$8,087,219
21$14,376,938$5,276,487$611,020$8,489,431
22$15,095,785$5,542,461$641,571$8,911,753
23$15,850,574$5,821,733$673,649$9,355,192
24$16,643,102$6,114,968$707,332$9,820,802
25$17,475,258$6,422,866$742,698$10,309,694
26$18,349,021$6,746,158$779,833$10,823,029
27$19,266,472$7,085,615$818,825$11,362,032
28$20,229,795$7,442,044$859,766$11,927,984
29$21,241,285$7,816,296$902,755$12,522,235
30$22,303,349$8,209,259$947,892$13,146,197
Total$360,000,001$131,910,609$15,299,999$212,789,393

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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.