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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 9, 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 $405,000,000 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 9, 2024
Jackpot:$405,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,095,831$2,213,645$274,312$3,607,873
2$6,400,623$2,326,418$288,028$3,786,177
3$6,720,654$2,444,830$302,429$3,973,395
4$7,056,687$2,569,162$317,551$4,169,974
5$7,409,521$2,699,710$333,428$4,376,382
6$7,779,997$2,836,787$350,100$4,593,110
7$8,168,997$2,980,717$367,605$4,820,676
8$8,577,447$3,131,843$385,985$5,059,619
9$9,006,319$3,290,526$405,284$5,310,509
10$9,456,635$3,457,143$425,549$5,573,944
11$9,929,467$3,632,090$446,826$5,850,550
12$10,425,940$3,815,786$469,167$6,140,987
13$10,947,237$4,008,665$492,626$6,445,946
14$11,494,599$4,211,189$517,257$6,766,153
15$12,069,329$4,423,839$543,120$7,102,370
16$12,672,795$4,647,122$570,276$7,455,398
17$13,306,435$4,881,569$598,790$7,826,077
18$13,971,757$5,127,738$628,729$8,215,290
19$14,670,345$5,386,215$660,166$8,623,964
20$15,403,862$5,657,617$693,174$9,053,071
21$16,174,055$5,942,588$727,832$9,503,634
22$16,982,758$6,241,808$764,224$9,976,725
23$17,831,896$6,555,989$802,435$10,473,471
24$18,723,490$6,885,879$842,557$10,995,054
25$19,659,665$7,232,264$884,685$11,542,716
26$20,642,648$7,595,968$928,919$12,117,762
27$21,674,781$7,977,857$975,365$12,721,559
28$22,758,519$8,378,840$1,024,133$13,355,546
29$23,896,445$8,799,873$1,075,340$14,021,233
30$25,091,268$9,241,957$1,129,107$14,720,204
Total$405,000,001$148,595,634$18,224,999$238,179,369

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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.