USA Mega

North Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 15, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $28,000,000 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 15, 2023
Jackpot:$28,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$421,440$117,879$18,965$284,597
2$442,512$125,254$19,913$297,345
3$464,638$132,998$20,909$310,731
4$487,870$141,129$21,954$324,786
5$512,263$149,667$23,052$339,544
6$537,876$158,631$24,204$355,040
7$564,770$168,044$25,415$371,311
8$593,009$177,928$26,685$388,395
9$622,659$188,572$28,020$406,068
10$653,792$200,091$29,421$424,281
11$686,482$212,186$30,892$443,404
12$720,806$224,886$32,436$463,484
13$756,846$238,221$34,058$484,567
14$794,688$252,222$35,761$506,705
15$834,423$266,924$37,549$529,950
16$876,144$282,361$39,426$554,356
17$919,951$298,570$41,398$579,984
18$965,949$315,589$43,468$606,892
19$1,014,246$333,459$45,641$635,146
20$1,064,958$352,222$47,923$664,813
21$1,118,206$371,924$50,319$695,963
22$1,174,117$392,611$52,835$728,670
23$1,232,822$414,332$55,477$763,013
24$1,294,464$437,139$58,251$799,073
25$1,359,187$461,087$61,163$836,936
26$1,427,146$486,232$64,222$876,693
27$1,498,503$512,634$67,433$918,437
28$1,573,429$540,356$70,804$962,268
29$1,652,100$569,465$74,344$1,008,291
30$1,734,705$600,029$78,062$1,056,615
Total$28,000,000$9,122,642$1,260,000$17,617,358

◄ Back to Jackpot Analysis

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.