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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 2023

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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 $500,000,000 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, Jul 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$338,657$4,444,357
2$7,902,004$2,881,929$355,590$4,664,484
3$8,297,104$3,028,116$373,370$4,895,618
4$8,711,959$3,181,613$392,038$5,138,308
5$9,147,557$3,342,784$411,640$5,393,133
6$9,604,935$3,512,014$432,222$5,660,699
7$10,085,182$3,689,705$453,833$5,941,643
8$10,589,441$3,876,281$476,525$6,236,635
9$11,118,913$4,072,185$500,351$6,546,376
10$11,674,858$4,277,885$525,369$6,871,604
11$12,258,601$4,493,870$551,637$7,213,094
12$12,871,531$4,720,654$579,219$7,571,658
13$13,515,108$4,958,778$608,180$7,948,150
14$14,190,863$5,208,807$638,589$8,343,467
15$14,900,406$5,471,338$670,518$8,758,550
16$15,645,427$5,746,996$704,044$9,194,387
17$16,427,698$6,036,436$739,246$9,652,015
18$17,249,083$6,340,348$776,209$10,132,526
19$18,111,537$6,659,456$815,019$10,637,061
20$19,017,114$6,994,520$855,770$11,166,824
21$19,967,969$7,346,336$898,559$11,723,074
22$20,966,368$7,715,744$943,487$12,307,137
23$22,014,686$8,103,622$990,661$12,920,404
24$23,115,420$8,510,893$1,040,194$13,564,333
25$24,271,191$8,938,528$1,092,204$14,240,459
26$25,484,751$9,387,546$1,146,814$14,950,392
27$26,758,989$9,859,013$1,204,154$15,695,821
28$28,096,938$10,354,055$1,264,362$16,478,521
29$29,501,785$10,873,848$1,327,580$17,300,356
30$30,976,874$11,419,631$1,393,959$18,163,284
Total$500,000,001$183,745,634$22,500,000$293,754,370

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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.