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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 29, 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 $67,000,000 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 29, 2023
Jackpot:$67,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$331,313$45,380$631,753
2$1,058,868$349,969$47,649$661,250
3$1,111,812$369,558$50,032$692,222
4$1,167,403$390,127$52,533$724,743
5$1,225,773$411,724$55,160$758,889
6$1,287,061$434,400$57,918$794,743
7$1,351,414$458,211$60,814$832,390
8$1,418,985$483,212$63,854$871,918
9$1,489,934$509,463$67,047$913,424
10$1,564,431$537,027$70,399$957,004
11$1,642,653$565,969$73,919$1,002,764
12$1,724,785$596,358$77,615$1,050,812
13$1,811,024$628,267$81,496$1,101,262
14$1,901,576$661,771$85,571$1,154,234
15$1,996,654$696,950$89,849$1,209,855
16$2,096,487$733,888$94,342$1,268,257
17$2,201,311$772,673$99,059$1,329,579
18$2,311,377$813,397$104,012$1,393,968
19$2,426,946$856,158$109,213$1,461,576
20$2,548,293$901,056$114,673$1,532,564
21$2,675,708$948,200$120,407$1,607,101
22$2,809,493$997,700$126,427$1,685,366
23$2,949,968$1,049,676$132,749$1,767,543
24$3,097,466$1,104,250$139,386$1,853,830
25$3,252,340$1,161,553$146,355$1,944,431
26$3,414,957$1,221,722$153,673$2,039,562
27$3,585,704$1,284,898$161,357$2,139,449
28$3,764,990$1,351,234$169,425$2,244,331
29$3,953,239$1,420,886$177,896$2,354,457
30$4,150,901$1,494,021$186,791$2,470,089
Total$67,000,000$23,535,631$3,015,001$40,449,366

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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.