USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Mar 24, 1998

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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 $30,000,000 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:Tue, Mar 24, 1998
Jackpot:$30,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$451,543$128,415$40,413$282,715
2$474,120$136,317$42,434$295,370
3$497,826$144,614$44,555$308,657
4$522,718$153,326$46,783$322,608
5$548,853$162,473$49,122$337,258
6$576,296$172,078$51,578$352,639
7$605,111$182,164$54,157$368,790
8$635,366$193,273$56,865$385,228
9$667,135$205,028$59,709$402,399
10$700,491$217,370$62,694$420,428
11$735,516$230,329$65,829$439,359
12$772,292$243,936$69,120$459,236
13$810,906$258,223$72,576$480,107
14$851,452$273,225$76,205$502,022
15$894,024$288,977$80,015$525,032
16$938,726$305,516$84,016$549,193
17$985,662$322,883$88,217$574,562
18$1,034,945$341,117$92,628$601,200
19$1,086,692$360,264$97,259$629,169
20$1,141,027$380,368$102,122$658,537
21$1,198,078$401,477$107,228$689,373
22$1,257,982$423,641$112,589$721,752
23$1,320,881$446,914$118,219$755,749
24$1,386,925$471,350$124,130$791,445
25$1,456,271$497,008$130,336$828,927
26$1,529,085$523,949$136,853$868,283
27$1,605,539$552,237$143,696$909,606
28$1,685,816$581,940$150,881$952,996
29$1,770,107$613,127$158,425$998,555
30$1,858,612$645,874$166,346$1,046,392
Total$30,000,000$9,857,413$2,685,000$17,457,587

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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.