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

For an out-of-state resident

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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:7.50% (For an out-of-state resident)
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,098,755$263,701$82,407$752,647
2$1,153,693$276,886$86,527$790,279
3$1,211,377$290,731$90,853$829,793
4$1,271,946$305,267$95,396$871,283
5$1,335,543$320,530$100,166$914,847
6$1,402,320$336,557$105,174$960,589
7$1,472,436$353,385$110,433$1,008,619
8$1,546,058$371,054$115,954$1,059,050
9$1,623,361$389,607$121,752$1,112,002
10$1,704,529$409,087$127,840$1,167,603
11$1,789,756$429,541$134,232$1,225,983
12$1,879,244$451,018$140,943$1,287,282
13$1,973,206$473,569$147,990$1,351,646
14$2,071,866$497,248$155,390$1,419,228
15$2,175,459$522,110$163,159$1,490,190
16$2,284,232$548,216$171,317$1,564,699
17$2,398,444$575,627$179,883$1,642,934
18$2,518,366$604,408$188,877$1,725,081
19$2,644,284$634,628$198,321$1,811,335
20$2,776,499$666,360$208,237$1,901,902
21$2,915,323$699,678$218,649$1,996,997
22$3,061,090$734,662$229,582$2,096,846
23$3,214,144$771,395$241,061$2,201,689
24$3,374,851$809,964$253,114$2,311,773
25$3,543,594$850,463$265,770$2,427,362
26$3,720,774$892,986$279,058$2,548,730
27$3,906,812$937,635$293,011$2,676,166
28$4,102,153$984,517$307,661$2,809,975
29$4,307,261$1,033,743$323,045$2,950,473
30$4,522,624$1,085,430$339,197$3,097,997
Total$73,000,000$17,520,000$5,475,000$50,005,000
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