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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 4, 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 $1,350,000,000 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, Aug 4, 2023
Jackpot:$1,350,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,319,437$7,476,380$914,375$11,928,683
2$21,335,409$7,852,289$960,093$12,523,027
3$22,402,179$8,246,994$1,008,098$13,147,087
4$23,522,289$8,661,435$1,058,503$13,802,351
5$24,698,403$9,096,597$1,111,428$14,490,378
6$25,933,323$9,553,517$1,167,000$15,212,806
7$27,229,990$10,033,284$1,225,350$15,971,356
8$28,591,489$10,537,039$1,286,617$16,767,834
9$30,021,064$11,065,981$1,350,948$17,604,135
10$31,522,117$11,621,371$1,418,495$18,482,250
11$33,098,223$12,204,530$1,489,420$19,404,273
12$34,753,134$12,816,847$1,563,891$20,372,395
13$36,490,790$13,459,780$1,642,086$21,388,925
14$38,315,330$14,134,860$1,724,190$22,456,280
15$40,231,096$14,843,693$1,810,399$23,577,004
16$42,242,652$15,587,969$1,900,919$24,753,763
17$44,354,783$16,369,458$1,995,965$25,989,360
18$46,572,523$17,190,021$2,095,764$27,286,738
19$48,901,149$18,051,613$2,200,552$28,648,984
20$51,346,206$18,956,284$2,310,579$30,079,343
21$53,913,516$19,906,189$2,426,108$31,581,219
22$56,609,192$20,903,589$2,547,414$33,158,190
23$59,439,652$21,950,859$2,674,784$34,814,009
24$62,411,634$23,050,492$2,808,524$36,552,618
25$65,532,216$24,205,108$2,948,950$38,378,158
26$68,808,828$25,417,454$3,096,397$40,294,976
27$72,249,269$26,690,417$3,251,217$42,307,635
28$75,861,731$28,027,028$3,413,778$44,420,925
29$79,654,818$29,430,470$3,584,467$46,639,881
30$83,637,560$30,904,085$3,763,690$48,969,785
Total$1,350,000,003$498,245,633$60,750,001$791,004,368

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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.