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Maryland Mega Millions Jackpot Annuity Payout Schedule for Jan 11, 2013

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The tax information provided here is based on 2022 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 $55,000,000 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 prize money, as well as deductions claimed.

State:

Maryland

Drawing Date:Fri, Jan 11, 2013
Jackpot:$55,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$269,252$74,091$484,487
2$869,220$284,567$77,795$506,859
3$912,681$300,647$81,685$530,349
4$958,315$317,532$85,769$555,015
5$1,006,231$335,261$90,058$580,913
6$1,056,543$353,876$94,561$608,106
7$1,109,370$373,422$99,289$636,659
8$1,164,838$393,945$104,253$666,640
9$1,223,080$415,495$109,466$698,120
10$1,284,234$438,122$114,939$731,174
11$1,348,446$461,880$120,686$765,880
12$1,415,868$486,826$126,720$802,322
13$1,486,662$513,020$133,056$840,586
14$1,560,995$540,523$139,709$880,763
15$1,639,045$569,402$146,694$922,949
16$1,720,997$599,724$154,029$967,244
17$1,807,047$631,562$161,731$1,013,754
18$1,897,399$664,993$169,817$1,062,589
19$1,992,269$700,095$178,308$1,113,866
20$2,091,882$736,952$187,223$1,167,707
21$2,196,477$775,651$196,585$1,224,241
22$2,306,300$816,286$206,414$1,283,600
23$2,421,615$858,953$216,735$1,345,928
24$2,542,696$903,753$227,571$1,411,372
25$2,669,831$950,792$238,950$1,480,089
26$2,803,323$1,000,184$250,897$1,552,241
27$2,943,489$1,052,046$263,442$1,628,001
28$3,090,663$1,106,500$276,614$1,707,548
29$3,245,196$1,163,678$290,445$1,791,074
30$3,407,456$1,223,714$304,967$1,878,775
Total$55,000,000$19,238,653$4,922,499$30,838,851

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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.