USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jul 10, 1998

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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 $5,000,000 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, Jul 10, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 9.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,471$7,149$56,637
2$79,020$12,298$7,507$59,215
3$82,971$13,168$7,882$61,921
4$87,120$14,080$8,276$64,763
5$91,476$15,039$8,690$67,747
6$96,049$16,045$9,125$70,880
7$100,852$17,101$9,581$74,169
8$105,894$18,262$10,060$77,573
9$111,189$19,532$10,563$81,094
10$116,749$20,867$11,091$84,791
11$122,586$22,268$11,646$88,673
12$128,715$23,739$12,228$92,749
13$135,151$25,283$12,839$97,028
14$141,909$26,905$13,481$101,522
15$149,004$28,608$14,155$106,241
16$156,454$30,396$14,863$111,195
17$164,277$32,273$15,606$116,397
18$172,491$34,245$16,387$121,859
19$181,115$36,315$17,206$127,595
20$190,171$38,488$18,066$133,617
21$199,680$40,961$18,970$139,750
22$209,664$44,155$19,918$145,590
23$220,147$47,510$20,914$151,723
24$231,154$51,032$21,960$158,162
25$242,712$54,731$23,058$164,923
26$254,848$58,744$24,211$171,893
27$267,590$63,204$25,421$178,965
28$280,969$67,887$26,692$186,391
29$295,018$72,803$28,027$194,188
30$309,769$77,966$29,428$202,374
Total$5,000,000$1,035,376$475,000$3,489,625

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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.