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Mega Millions Annuity Jackpot Analysis for Maryland (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
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$4,861,614$1,166,787$364,621$3,330,205
2$5,104,694$1,225,127$382,852$3,496,716
3$5,359,929$1,286,383$401,995$3,671,551
4$5,627,926$1,350,702$422,094$3,855,129
5$5,909,321$1,418,237$443,199$4,047,885
6$6,204,788$1,489,149$465,359$4,250,280
7$6,515,027$1,563,607$488,627$4,462,794
8$6,840,779$1,641,787$513,058$4,685,933
9$7,182,817$1,723,876$538,711$4,920,230
10$7,541,958$1,810,070$565,647$5,166,241
11$7,919,056$1,900,573$593,929$5,424,554
12$8,315,009$1,995,602$623,626$5,695,781
13$8,730,759$2,095,382$654,807$5,980,570
14$9,167,297$2,200,151$687,547$6,279,599
15$9,625,662$2,310,159$721,925$6,593,579
16$10,106,946$2,425,667$758,021$6,923,258
17$10,612,293$2,546,950$795,922$7,269,420
18$11,142,907$2,674,298$835,718$7,632,891
19$11,700,053$2,808,013$877,504$8,014,536
20$12,285,055$2,948,413$921,379$8,415,263
21$12,899,308$3,095,834$967,448$8,836,026
22$13,544,273$3,250,626$1,015,821$9,277,827
23$14,221,487$3,413,157$1,066,612$9,741,719
24$14,932,561$3,583,815$1,119,942$10,228,805
25$15,679,189$3,763,005$1,175,939$10,740,245
26$16,463,149$3,951,156$1,234,736$11,277,257
27$17,286,307$4,148,714$1,296,473$11,841,120
28$18,150,622$4,356,149$1,361,297$12,433,176
29$19,058,153$4,573,957$1,429,361$13,054,835
30$20,011,061$4,802,655$1,500,830$13,707,577
Total$323,000,001$77,520,000$24,225,000$221,255,000
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