USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 1998

For a non-Maryland resident

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $16,000,000 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, Sep 15, 1998
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$21,554$164,519
2$252,864$58,877$22,631$171,356
3$265,507$63,302$23,763$178,442
4$278,783$67,949$24,951$185,883
5$292,722$72,827$26,199$193,696
6$307,358$77,950$27,509$201,899
7$322,726$83,329$28,884$210,513
8$338,862$88,976$30,328$219,557
9$355,805$94,907$31,845$229,054
10$373,595$101,133$33,437$239,026
11$392,275$107,671$35,109$249,496
12$411,889$114,536$36,864$260,489
13$432,483$121,744$38,707$272,032
14$454,108$129,312$40,643$284,153
15$476,813$137,259$42,675$296,879
16$500,654$145,604$44,809$310,242
17$525,686$154,365$47,049$324,272
18$551,971$163,564$49,401$339,005
19$579,569$173,224$51,871$354,474
20$608,548$183,366$54,465$370,716
21$638,975$194,609$57,188$387,178
22$670,924$206,430$60,048$404,447
23$704,470$218,842$63,050$422,578
24$739,693$231,874$66,203$441,617
25$776,678$245,559$69,513$461,607
26$815,512$259,927$72,988$482,597
27$856,288$275,014$76,638$504,636
28$899,102$290,855$80,470$527,777
29$944,057$307,489$84,493$552,075
30$991,260$324,954$88,718$577,588
Total$16,000,000$4,750,198$1,432,003$9,817,803

◄ Back to Jackpot Analysis

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.