USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Mega Millions Annuity Jackpot Analysis for Maryland

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $109,000,000 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:  Tue, Oct 27, 2020
Jackpot:$109,000,000
Federal Tax:  24%
State Tax:8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,640,606$393,746$146,834$1,100,027
2$1,722,637$413,433$154,176$1,155,028
3$1,808,769$434,104$161,885$1,212,779
4$1,899,207$455,810$169,979$1,273,418
5$1,994,167$478,600$178,478$1,337,089
6$2,093,876$502,530$187,402$1,403,944
7$2,198,570$527,657$196,772$1,474,141
8$2,308,498$554,040$206,611$1,547,848
9$2,423,923$581,742$216,941$1,625,240
10$2,545,119$610,829$227,788$1,706,502
11$2,672,375$641,370$239,178$1,791,827
12$2,805,994$673,439$251,136$1,881,419
13$2,946,293$707,110$263,693$1,975,490
14$3,093,608$742,466$276,878$2,074,264
15$3,248,289$779,589$290,722$2,177,977
16$3,410,703$818,569$305,258$2,286,876
17$3,581,238$859,497$320,521$2,401,220
18$3,760,300$902,472$336,547$2,521,281
19$3,948,315$947,596$353,374$2,647,345
20$4,145,731$994,975$371,043$2,779,712
21$4,353,017$1,044,724$389,595$2,918,698
22$4,570,668$1,096,960$409,075$3,064,633
23$4,799,202$1,151,808$429,529$3,217,865
24$5,039,162$1,209,399$451,005$3,378,758
25$5,291,120$1,269,869$473,555$3,547,696
26$5,555,676$1,333,362$497,233$3,725,081
27$5,833,459$1,400,030$522,095$3,911,335
28$6,125,132$1,470,032$548,199$4,106,901
29$6,431,389$1,543,533$575,609$4,312,246
30$6,752,959$1,620,710$604,390$4,527,859
Total$109,000,000$26,160,000$9,755,500$73,084,500
<( Back )Mega Millions Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.