USA Mega

North Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$24,383$357,446
2$568,944$169,505$25,602$373,837
3$597,391$179,462$26,883$391,047
4$627,261$190,274$28,227$408,760
5$658,624$201,879$29,638$427,107
6$691,555$214,063$31,120$446,372
7$726,133$226,857$32,676$466,600
8$762,440$240,290$34,310$487,839
9$800,562$254,396$36,025$510,141
10$840,590$269,206$37,827$533,557
11$882,619$284,757$39,718$558,145
12$926,750$301,085$41,704$583,961
13$973,088$318,230$43,789$611,069
14$1,021,742$336,232$45,978$639,531
15$1,072,829$355,135$48,277$669,417
16$1,126,471$374,982$50,691$700,798
17$1,182,794$395,822$53,226$733,747
18$1,241,934$417,703$55,887$768,344
19$1,304,031$440,679$58,681$804,670
20$1,369,232$464,804$61,615$842,813
21$1,437,694$490,134$64,696$882,863
22$1,509,578$516,732$67,931$924,916
23$1,585,057$544,659$71,328$969,071
24$1,664,310$573,983$74,894$1,015,434
25$1,747,526$604,772$78,639$1,064,115
26$1,834,902$637,102$82,571$1,115,230
27$1,926,647$671,047$86,699$1,168,901
28$2,022,980$706,690$91,034$1,225,255
29$2,124,128$744,115$95,586$1,284,427
30$2,230,335$783,412$100,365$1,346,558
Total$36,000,000$12,068,030$1,620,000$22,311,971

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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.