USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 1998

For a non-Maryland resident

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The tax information provided here is based on 2024 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 $25,000,000 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, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$33,678$240,533
2$395,100$108,660$35,361$251,079
3$414,855$115,574$37,130$262,152
4$435,598$122,834$38,986$273,778
5$457,378$130,457$40,935$285,986
6$480,247$138,461$42,982$298,804
7$504,259$146,865$45,131$312,262
8$529,472$155,690$47,388$326,394
9$555,946$164,956$49,757$341,233
10$583,743$174,685$52,245$356,813
11$612,930$184,972$54,857$373,101
12$643,577$196,311$57,600$389,665
13$675,755$208,217$60,480$407,058
14$709,543$220,719$63,504$425,320
15$745,020$233,845$66,679$444,496
16$782,271$247,628$70,013$464,630
17$821,385$262,100$73,514$485,771
18$862,454$277,296$77,190$507,969
19$905,577$293,251$81,049$531,277
20$950,856$310,004$85,102$555,750
21$998,398$327,595$89,357$581,447
22$1,048,318$346,066$93,824$608,428
23$1,100,734$365,459$98,516$636,759
24$1,155,771$385,823$103,442$666,506
25$1,213,560$407,205$108,614$697,741
26$1,274,238$429,656$114,044$730,538
27$1,337,949$453,229$119,746$764,974
28$1,404,847$477,981$125,734$801,132
29$1,475,089$503,971$132,020$839,098
30$1,548,844$531,260$138,622$878,962
Total$25,000,000$8,022,845$2,237,500$14,739,656

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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.