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Maryland Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 2022

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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 $510,000,000 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:Fri, Dec 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$687,023$4,190,816
2$8,060,044$2,940,404$721,374$4,398,266
3$8,463,046$3,089,515$757,443$4,616,088
4$8,886,198$3,246,081$795,315$4,844,802
5$9,330,508$3,410,476$835,080$5,084,952
6$9,797,033$3,583,090$876,834$5,337,109
7$10,286,885$3,764,335$920,676$5,601,874
8$10,801,229$3,954,643$966,710$5,879,877
9$11,341,291$4,154,465$1,015,046$6,171,780
10$11,908,355$4,364,279$1,065,798$6,478,278
11$12,503,773$4,584,584$1,119,088$6,800,102
12$13,128,962$4,815,904$1,175,042$7,138,016
13$13,785,410$5,058,789$1,233,794$7,492,826
14$14,474,680$5,313,819$1,295,484$7,865,377
15$15,198,414$5,581,601$1,360,258$8,256,555
16$15,958,335$5,862,772$1,428,271$8,667,292
17$16,756,251$6,158,001$1,499,685$9,098,566
18$17,594,064$6,467,991$1,574,669$9,551,404
19$18,473,767$6,793,482$1,653,402$10,026,883
20$19,397,456$7,135,246$1,736,072$10,526,137
21$20,367,328$7,494,099$1,822,876$11,050,353
22$21,385,695$7,870,895$1,914,020$11,600,780
23$22,454,980$8,266,530$2,009,721$12,178,729
24$23,577,728$8,681,947$2,110,207$12,785,574
25$24,756,615$9,118,135$2,215,717$13,422,763
26$25,994,446$9,576,133$2,326,503$14,091,810
27$27,294,168$10,057,030$2,442,828$14,794,310
28$28,658,876$10,561,972$2,564,969$15,531,935
29$30,091,820$11,092,161$2,693,218$16,306,441
30$31,596,411$11,648,860$2,827,879$17,119,673
Total$510,000,001$187,445,633$45,645,002$276,909,368

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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.