USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jun 26, 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 $13,000,000 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, Jun 26, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$17,512$137,856
2$205,452$43,431$18,388$143,633
3$215,725$46,718$19,307$149,699
4$226,511$50,170$20,273$156,068
5$237,836$53,794$21,286$162,756
6$249,728$57,780$22,351$169,598
7$262,215$62,150$23,468$176,597
8$275,325$66,739$24,642$183,945
9$289,092$71,557$25,874$191,661
10$303,546$76,616$27,167$199,763
11$318,724$81,928$28,526$208,270
12$334,660$87,506$29,952$217,202
13$351,393$93,362$31,450$226,581
14$368,962$99,512$33,022$236,429
15$387,411$105,968$34,673$246,769
16$406,781$112,748$36,407$257,626
17$427,120$119,867$38,227$269,026
18$448,476$127,341$40,139$280,996
19$470,900$135,190$42,146$293,565
20$494,445$143,430$44,253$306,762
21$519,167$152,083$46,465$320,618
22$545,126$161,169$48,789$335,168
23$572,382$170,708$51,228$350,445
24$601,001$180,725$53,790$366,486
25$631,051$191,677$56,479$382,895
26$662,604$203,351$59,303$399,949
27$695,734$215,609$62,268$417,856
28$730,520$228,480$65,382$436,659
29$767,046$241,995$68,651$456,401
30$805,399$256,185$72,083$477,130
Total$13,000,000$3,678,089$1,163,501$8,158,409

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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.