USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Mar 6, 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 $15,000,000 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, Mar 6, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$20,207$155,632
2$237,060$53,546$21,217$162,297
3$248,913$57,494$22,278$169,141
4$261,359$61,850$23,392$176,117
5$274,427$66,424$24,561$183,441
6$288,148$71,227$25,789$191,132
7$302,555$76,269$27,079$199,208
8$317,683$81,564$28,433$207,687
9$333,567$87,123$29,854$216,590
10$350,246$92,961$31,347$225,938
11$367,758$99,090$32,914$235,754
12$386,146$105,526$34,560$246,060
13$405,453$112,283$36,288$256,882
14$425,726$119,379$38,102$268,245
15$447,012$126,829$40,008$280,176
16$469,363$134,652$42,008$292,703
17$492,831$142,866$44,108$305,857
18$517,472$151,490$46,314$319,669
19$543,346$160,546$48,629$334,171
20$570,513$170,054$51,061$349,398
21$599,039$180,038$53,614$365,387
22$628,991$190,914$56,295$381,782
23$660,441$202,551$59,109$398,780
24$693,463$214,769$62,065$416,629
25$728,136$227,598$65,168$435,370
26$764,543$241,068$68,427$455,047
27$802,770$255,213$71,848$475,709
28$842,908$270,064$75,440$497,404
29$885,054$285,658$79,212$520,184
30$929,306$302,031$83,173$544,102
Total$15,000,000$4,391,010$1,342,500$9,266,492

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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.