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Mega Millions Annuity Jackpot Analysis for Maryland

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $90,000,000 would be for a resident of Maryland, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Maryland

Drawing Date:  Fri, Aug 23, 2019
Jackpot:$90,000,000
Federal Tax:  24%
State Tax:8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,354,629$325,111$118,530$910,988
2$1,422,361$341,367$124,457$956,538
3$1,493,479$358,435$130,679$1,004,364
4$1,568,153$376,357$137,213$1,054,583
5$1,646,560$395,174$144,074$1,107,312
6$1,728,888$414,933$151,278$1,162,677
7$1,815,333$435,680$158,842$1,220,811
8$1,906,099$457,464$166,784$1,281,852
9$2,001,404$480,337$175,123$1,345,944
10$2,101,474$504,354$183,879$1,413,242
11$2,206,548$529,572$193,073$1,483,904
12$2,316,876$556,050$202,727$1,558,099
13$2,432,719$583,853$212,863$1,636,004
14$2,554,355$613,045$223,506$1,717,804
15$2,682,073$643,698$234,681$1,803,694
16$2,816,177$675,882$246,415$1,893,879
17$2,956,986$709,677$258,736$1,988,573
18$3,104,835$745,160$271,673$2,088,001
19$3,260,077$782,418$285,257$2,192,401
20$3,423,080$821,539$299,520$2,302,022
21$3,594,234$862,616$314,496$2,417,123
22$3,773,946$905,747$330,220$2,537,979
23$3,962,643$951,034$346,731$2,664,878
24$4,160,776$998,586$364,068$2,798,122
25$4,368,814$1,048,515$382,271$2,938,028
26$4,587,255$1,100,941$401,385$3,084,929
27$4,816,618$1,155,988$421,454$3,239,176
28$5,057,449$1,213,788$442,527$3,401,134
29$5,310,321$1,274,477$464,653$3,571,191
30$5,575,837$1,338,201$487,886$3,749,751
Total$90,000,000$21,600,000$7,875,000$60,525,000
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