USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 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 $47,000,000 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:Tue, Jan 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$63,314$419,404
2$742,788$237,787$66,480$438,522
3$779,928$251,528$69,804$458,596
4$818,924$265,957$73,294$479,674
5$859,870$281,107$76,958$501,805
6$902,864$297,015$80,806$525,043
7$948,007$313,718$84,847$549,443
8$995,407$331,256$89,089$575,063
9$1,045,178$349,671$93,543$601,964
10$1,097,437$369,007$98,221$630,210
11$1,152,308$389,309$103,132$659,868
12$1,209,924$410,627$108,288$691,009
13$1,270,420$433,010$113,703$723,707
14$1,333,941$456,513$119,388$758,040
15$1,400,638$481,191$125,357$794,090
16$1,470,670$507,103$131,625$831,942
17$1,544,204$534,310$138,206$871,687
18$1,621,414$562,878$145,117$913,419
19$1,702,484$592,874$152,372$957,238
20$1,787,609$624,370$159,991$1,003,247
21$1,876,989$657,441$167,991$1,051,558
22$1,970,839$692,165$176,390$1,102,283
23$2,069,380$728,626$185,210$1,155,545
24$2,172,849$766,909$194,470$1,211,470
25$2,281,492$807,107$204,194$1,270,191
26$2,395,567$849,315$214,403$1,331,849
27$2,515,345$893,633$225,123$1,396,589
28$2,641,112$940,166$236,380$1,464,566
29$2,773,168$989,027$248,199$1,535,942
30$2,911,826$1,040,331$260,608$1,610,887
Total$47,000,000$16,278,650$4,206,503$26,514,851

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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.