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Maryland Mega Millions Jackpot Annuity Payout Schedule for Jan 10, 2023

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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 $1,100,000,000 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, Jan 10, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$1,481,814$8,990,643
2$17,384,408$6,390,419$1,555,904$9,438,085
3$18,253,628$6,712,030$1,633,700$9,907,898
4$19,166,310$7,049,722$1,715,385$10,401,203
5$20,124,624$7,404,299$1,801,154$10,919,172
6$21,130,856$7,776,604$1,891,212$11,463,040
7$22,187,399$8,167,525$1,985,772$12,034,102
8$23,296,769$8,577,992$2,085,061$12,633,716
9$24,461,608$9,008,983$2,189,314$13,263,311
10$25,684,688$9,461,522$2,298,780$13,924,386
11$26,968,922$9,936,689$2,413,719$14,618,515
12$28,317,368$10,435,614$2,534,404$15,347,350
13$29,733,237$10,959,485$2,661,125$16,112,627
14$31,219,899$11,509,550$2,794,181$16,916,167
15$32,780,893$12,087,118$2,933,890$17,759,885
16$34,419,938$12,693,565$3,080,584$18,645,789
17$36,140,935$13,330,334$3,234,614$19,575,987
18$37,947,982$13,998,941$3,396,344$20,552,696
19$39,845,380$14,700,978$3,566,162$21,578,240
20$41,837,650$15,438,118$3,744,470$22,655,062
21$43,929,532$16,212,115$3,931,693$23,785,724
22$46,126,009$17,024,811$4,128,278$24,972,920
23$48,432,309$17,878,142$4,334,692$26,219,475
24$50,853,924$18,774,140$4,551,426$27,528,358
25$53,396,620$19,714,937$4,778,998$28,902,685
26$56,066,452$20,702,775$5,017,947$30,345,730
27$58,869,775$21,740,004$5,268,845$31,860,925
28$61,813,263$22,829,095$5,532,287$33,451,881
29$64,903,926$23,972,640$5,808,901$35,122,384
30$68,149,123$25,173,363$6,099,346$36,876,413
Total$1,100,000,002$405,745,632$98,450,002$595,804,369

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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.