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

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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 $535,000,000 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 23, 2024
Jackpot:$535,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,052,518$2,937,619$362,363$4,752,535
2$8,455,144$3,086,591$380,481$4,988,071
3$8,877,901$3,243,011$399,506$5,235,384
4$9,321,796$3,407,252$419,481$5,495,063
5$9,787,885$3,579,705$440,455$5,767,725
6$10,277,280$3,760,781$462,478$6,054,021
7$10,791,144$3,950,911$485,601$6,354,632
8$11,330,701$4,150,547$509,882$6,670,273
9$11,897,236$4,360,165$535,376$7,001,696
10$12,492,098$4,580,264$562,144$7,349,690
11$13,116,703$4,811,368$590,252$7,715,084
12$13,772,538$5,054,027$619,764$8,098,747
13$14,461,165$5,308,819$650,752$8,501,594
14$15,184,223$5,576,350$683,290$8,924,583
15$15,943,434$5,857,258$717,455$9,368,721
16$16,740,606$6,152,212$753,327$9,835,067
17$17,577,636$6,461,913$790,994$10,324,730
18$18,456,518$6,787,100$830,543$10,838,875
19$19,379,344$7,128,545$872,070$11,378,729
20$20,348,311$7,487,063$915,674$11,945,574
21$21,365,727$7,863,507$961,458$12,540,762
22$22,434,013$8,258,773$1,009,531$13,165,710
23$23,555,714$8,673,802$1,060,007$13,821,905
24$24,733,499$9,109,583$1,113,007$14,510,909
25$25,970,174$9,567,152$1,168,658$15,234,364
26$27,268,684$10,047,601$1,227,091$15,993,992
27$28,632,118$10,552,071$1,288,445$16,791,601
28$30,063,723$11,081,765$1,352,868$17,629,090
29$31,566,909$11,637,944$1,420,511$18,508,454
30$33,145,255$12,221,932$1,491,536$19,431,787
Total$535,000,001$196,695,631$24,075,000$314,229,368

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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.