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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $720,000,000 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, Jul 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$487,666$6,381,477
2$11,378,885$4,168,375$512,050$6,698,460
3$11,947,829$4,378,884$537,652$7,031,292
4$12,545,221$4,599,920$564,535$7,380,767
5$13,172,481$4,832,006$592,762$7,747,714
6$13,831,106$5,075,697$622,400$8,133,009
7$14,522,661$5,331,572$653,520$8,537,569
8$15,248,794$5,600,242$686,196$8,962,357
9$16,011,234$5,882,344$720,506$9,408,384
10$16,811,796$6,178,552$756,531$9,876,713
11$17,652,385$6,489,570$794,357$10,368,458
12$18,535,005$6,816,139$834,075$10,884,790
13$19,461,755$7,159,037$875,779$11,426,939
14$20,434,843$7,519,080$919,568$11,996,195
15$21,456,585$7,897,124$965,546$12,593,914
16$22,529,414$8,294,071$1,013,824$13,221,520
17$23,655,884$8,710,865$1,064,515$13,880,505
18$24,838,679$9,148,499$1,117,741$14,572,439
19$26,080,613$9,608,014$1,173,628$15,298,971
20$27,384,643$10,090,506$1,232,309$16,061,829
21$28,753,875$10,597,122$1,293,924$16,862,829
22$30,191,569$11,129,068$1,358,621$17,703,880
23$31,701,148$11,687,612$1,426,552$18,586,984
24$33,286,205$12,274,084$1,497,879$19,514,242
25$34,950,515$12,889,878$1,572,773$20,487,864
26$36,698,041$13,536,463$1,651,412$21,510,166
27$38,532,943$14,215,377$1,733,982$22,583,584
28$40,459,590$14,928,236$1,820,682$23,710,672
29$42,482,570$15,676,739$1,911,716$24,894,116
30$44,606,699$16,462,666$2,007,301$26,136,731
Total$720,000,001$265,145,632$32,400,002$422,454,370

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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.