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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 2024

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The tax information provided here is based on 2025 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 $262,000,000 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, Jan 23, 2024
Jackpot:$262,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,943,476$1,416,106$167,598$2,359,772
2$4,140,650$1,489,061$175,978$2,475,612
3$4,347,682$1,565,663$184,776$2,597,243
4$4,565,067$1,646,095$194,015$2,724,956
5$4,793,320$1,730,549$203,716$2,859,055
6$5,032,986$1,819,225$213,902$2,999,859
7$5,284,635$1,912,335$224,597$3,147,703
8$5,548,867$2,010,101$235,827$3,302,939
9$5,826,310$2,112,755$247,618$3,465,937
10$6,117,626$2,220,542$259,999$3,637,085
11$6,423,507$2,333,718$272,999$3,816,790
12$6,744,682$2,452,553$286,649$4,005,481
13$7,081,916$2,577,329$300,981$4,203,606
14$7,436,012$2,708,345$316,031$4,411,637
15$7,807,813$2,845,911$331,832$4,630,070
16$8,198,203$2,990,356$348,424$4,859,424
17$8,608,113$3,142,022$365,845$5,100,246
18$9,038,519$3,301,272$384,137$5,353,110
19$9,490,445$3,468,485$403,344$5,618,616
20$9,964,967$3,644,058$423,511$5,897,398
21$10,463,216$3,828,410$444,687$6,190,119
22$10,986,377$4,021,980$466,921$6,497,476
23$11,535,695$4,225,228$490,267$6,820,201
24$12,112,480$4,438,638$514,780$7,159,062
25$12,718,104$4,662,719$540,519$7,514,866
26$13,354,010$4,898,004$567,545$7,888,460
27$14,021,710$5,145,053$595,923$8,280,734
28$14,722,795$5,404,454$625,719$8,692,622
29$15,458,935$5,676,826$657,005$9,125,104
30$16,231,882$5,962,817$689,855$9,579,210
Total$262,000,001$95,650,610$11,135,000$155,214,393

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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.