USA Mega

North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jun 23, 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 $320,000,000 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, Jun 23, 2023
Jackpot:$320,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,816,459$1,740,278$216,741$2,859,441
2$5,057,282$1,829,382$227,578$3,000,322
3$5,310,146$1,922,942$238,957$3,148,248
4$5,575,654$2,021,180$250,904$3,303,570
5$5,854,436$2,124,329$263,450$3,466,657
6$6,147,158$2,232,636$276,622$3,637,900
7$6,454,516$2,346,359$290,453$3,817,704
8$6,777,242$2,465,767$304,976$4,006,499
9$7,116,104$2,591,146$320,225$4,204,733
10$7,471,909$2,722,794$336,236$4,412,879
11$7,845,505$2,861,024$353,048$4,631,432
12$8,237,780$3,006,166$370,700$4,860,913
13$8,649,669$3,158,565$389,235$5,101,868
14$9,082,152$3,318,584$408,697$5,354,871
15$9,536,260$3,486,604$429,132$5,620,524
16$10,013,073$3,663,025$450,588$5,899,460
17$10,513,726$3,848,267$473,118$6,192,342
18$11,039,413$4,042,770$496,774$6,499,869
19$11,591,383$4,247,000$521,612$6,822,772
20$12,170,953$4,461,440$547,693$7,161,820
21$12,779,500$4,686,603$575,078$7,517,820
22$13,418,475$4,923,024$603,831$7,891,620
23$14,089,399$5,171,265$634,023$8,284,111
24$14,793,869$5,431,919$665,724$8,696,225
25$15,533,562$5,705,606$699,010$9,128,946
26$16,310,241$5,992,977$733,961$9,583,303
27$17,125,753$6,294,716$770,659$10,060,378
28$17,982,040$6,611,543$809,192$10,561,306
29$18,881,142$6,944,210$849,651$11,087,280
30$19,825,199$7,293,512$892,134$11,639,554
Total$320,000,001$117,145,633$14,400,002$188,454,367

◄ 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.