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Maryland Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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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 $105,000,000 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 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$542,936$141,446$896,019
2$1,659,421$572,173$148,518$938,729
3$1,742,392$602,873$155,944$983,575
4$1,829,511$635,107$163,741$1,030,663
5$1,920,987$668,953$171,928$1,080,106
6$2,017,036$704,491$180,525$1,132,020
7$2,117,888$741,806$189,551$1,186,531
8$2,223,783$780,987$199,029$1,243,767
9$2,334,972$822,127$208,980$1,303,864
10$2,451,720$865,324$219,429$1,366,967
11$2,574,306$910,681$230,400$1,433,225
12$2,703,022$958,306$241,920$1,502,795
13$2,838,173$1,008,312$254,016$1,575,845
14$2,980,081$1,060,818$266,717$1,652,546
15$3,129,085$1,115,949$280,053$1,733,083
16$3,285,540$1,173,837$294,056$1,817,646
17$3,449,816$1,234,620$308,759$1,906,438
18$3,622,307$1,298,441$324,197$1,999,669
19$3,803,423$1,365,454$340,406$2,097,562
20$3,993,594$1,435,817$357,427$2,200,350
21$4,193,273$1,509,699$375,298$2,308,277
22$4,402,937$1,587,275$394,063$2,421,600
23$4,623,084$1,668,729$413,766$2,540,589
24$4,854,238$1,754,256$434,454$2,665,528
25$5,096,950$1,844,059$456,177$2,796,714
26$5,351,798$1,938,353$478,986$2,934,459
27$5,619,388$2,037,361$502,935$3,079,091
28$5,900,357$2,141,320$528,082$3,230,955
29$6,195,375$2,250,476$554,486$3,390,412
30$6,505,144$2,365,091$582,210$3,557,842
Total$105,000,000$37,595,631$9,397,499$58,006,867

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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.