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Mega Millions Annuity Jackpot Analysis for Maryland (May. 25, 2018 Drawing)

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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 $73,000,000 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:  May. 25, 2018
Jackpot:$73,000,000
Federal Tax:  24%
State Tax:8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,098,755$263,701$98,339$736,715
2$1,153,693$276,886$103,255$773,551
3$1,211,377$290,731$108,418$812,228
4$1,271,946$305,267$113,839$852,840
5$1,335,543$320,530$119,531$895,482
6$1,402,320$336,557$125,508$940,256
7$1,472,436$353,385$131,783$987,269
8$1,546,058$371,054$138,372$1,036,632
9$1,623,361$389,607$145,291$1,088,464
10$1,704,529$409,087$152,555$1,142,887
11$1,789,756$429,541$160,183$1,200,031
12$1,879,244$451,018$168,192$1,260,033
13$1,973,206$473,569$176,602$1,323,034
14$2,071,866$497,248$185,432$1,389,186
15$2,175,459$522,110$194,704$1,458,645
16$2,284,232$548,216$204,439$1,531,578
17$2,398,444$575,627$214,661$1,608,157
18$2,518,366$604,408$225,394$1,688,564
19$2,644,284$634,628$236,663$1,772,993
20$2,776,499$666,360$248,497$1,861,642
21$2,915,323$699,678$260,921$1,954,724
22$3,061,090$734,662$273,968$2,052,461
23$3,214,144$771,395$287,666$2,155,084
24$3,374,851$809,964$302,049$2,262,838
25$3,543,594$850,463$317,152$2,375,980
26$3,720,774$892,986$333,009$2,494,779
27$3,906,812$937,635$349,660$2,619,518
28$4,102,153$984,517$367,143$2,750,494
29$4,307,261$1,033,743$385,500$2,888,018
30$4,522,624$1,085,430$404,775$3,032,419
Total$73,000,000$17,520,000$6,533,500$48,946,500
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