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Maryland Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

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The tax information provided here is based on 2021 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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$452,627$2,769,389
2$5,310,146$1,928,826$475,258$2,906,062
3$5,575,654$2,027,064$499,021$3,049,568
4$5,854,436$2,130,214$523,972$3,200,251
5$6,147,158$2,238,521$550,171$3,358,467
6$6,454,516$2,352,243$577,679$3,524,594
7$6,777,242$2,471,652$606,563$3,699,027
8$7,116,104$2,597,031$636,891$3,882,182
9$7,471,909$2,728,679$668,736$4,074,495
10$7,845,505$2,866,909$702,173$4,276,423
11$8,237,780$3,012,051$737,281$4,488,448
12$8,649,669$3,164,450$774,145$4,711,074
13$9,082,152$3,324,469$812,853$4,944,831
14$9,536,260$3,492,488$853,495$5,190,276
15$10,013,073$3,668,909$896,170$5,447,994
16$10,513,727$3,854,151$940,979$5,718,597
17$11,039,413$4,048,655$988,027$6,002,730
18$11,591,383$4,252,884$1,037,429$6,301,070
19$12,170,953$4,467,325$1,089,300$6,614,328
20$12,779,500$4,692,487$1,143,765$6,943,248
21$13,418,475$4,928,908$1,200,954$7,288,614
22$14,089,399$5,177,150$1,261,001$7,651,248
23$14,793,869$5,437,804$1,324,051$8,032,014
24$15,533,562$5,711,490$1,390,254$8,431,818
25$16,310,240$5,998,861$1,459,767$8,851,613
26$17,125,753$6,300,601$1,532,755$9,292,397
27$17,982,040$6,617,427$1,609,393$9,755,221
28$18,881,142$6,950,095$1,689,862$10,241,185
29$19,825,199$7,299,396$1,774,355$10,751,448
30$20,816,459$7,666,162$1,863,073$11,287,224
Total$336,000,001$123,242,169$30,072,000$182,685,836

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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.