USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

For a non-Maryland resident

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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 $120,000,000 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, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$161,652$1,013,281
2$1,896,481$664,653$169,735$1,062,093
3$1,991,305$699,738$178,222$1,113,345
4$2,090,870$736,577$187,133$1,167,160
5$2,195,414$775,258$196,490$1,223,666
6$2,305,184$815,873$206,314$1,282,997
7$2,420,444$858,519$216,630$1,345,295
8$2,541,466$903,297$227,461$1,410,707
9$2,668,539$950,314$238,834$1,479,390
10$2,801,966$999,682$250,776$1,551,508
11$2,942,064$1,051,519$263,315$1,627,231
12$3,089,167$1,105,947$276,480$1,706,740
13$3,243,626$1,163,097$290,305$1,790,225
14$3,405,807$1,223,104$304,820$1,877,884
15$3,576,097$1,286,111$320,061$1,969,926
16$3,754,902$1,352,269$336,064$2,066,570
17$3,942,647$1,421,735$352,867$2,168,046
18$4,139,780$1,494,674$370,510$2,274,596
19$4,346,769$1,571,259$389,036$2,386,474
20$4,564,107$1,651,675$408,488$2,503,945
21$4,792,313$1,736,111$428,912$2,627,290
22$5,031,928$1,824,768$450,358$2,756,802
23$5,283,525$1,917,859$472,875$2,892,790
24$5,547,701$2,015,604$496,519$3,035,577
25$5,825,086$2,118,237$521,345$3,185,504
26$6,116,340$2,226,001$547,412$3,342,927
27$6,422,157$2,339,153$574,783$3,508,221
28$6,743,265$2,457,963$603,522$3,681,780
29$7,080,428$2,582,713$633,698$3,864,016
30$7,434,450$2,713,701$665,383$4,055,365
Total$120,000,000$43,288,650$10,740,000$65,971,351

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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.