USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for May 30, 1997

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The tax information provided here is based on 2025 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $8,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Maryland

Drawing Date:Fri, May 30, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,746$10,777$87,889
2$126,432$23,191$11,316$91,926
3$132,754$24,708$11,881$96,164
4$139,391$26,301$12,476$100,615
5$146,361$27,974$13,099$105,288
6$153,679$29,730$13,754$110,195
7$161,363$31,574$14,442$115,347
8$169,431$33,510$15,164$120,757
9$177,903$35,544$15,922$126,437
10$186,798$37,678$16,718$132,401
11$196,138$39,920$17,554$138,663
12$205,944$42,965$18,432$144,547
13$216,242$46,260$19,354$150,628
14$227,054$49,720$20,321$157,012
15$238,406$53,353$21,337$163,716
16$250,327$57,168$22,404$170,755
17$262,843$61,542$23,524$177,776
18$275,985$66,142$24,701$185,143
19$289,785$70,972$25,936$192,877
20$304,274$76,043$27,233$200,998
21$319,488$81,368$28,594$209,525
22$335,462$86,959$30,024$218,479
23$352,235$92,829$31,525$227,880
24$369,847$98,994$33,101$237,752
25$388,339$105,466$34,756$248,117
26$407,756$112,262$36,494$259,000
27$428,144$119,398$38,319$270,427
28$449,551$126,890$40,235$282,426
29$472,029$134,757$42,247$295,025
30$495,630$143,018$44,359$308,253
Total$8,000,000$1,957,982$715,999$5,326,018

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.