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Maryland Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 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 $315,000,000 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, Oct 3, 2023
Jackpot:$315,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,741,202$1,712,432$424,338$2,604,432
2$4,978,262$1,800,145$445,554$2,732,563
3$5,227,175$1,892,243$467,832$2,867,100
4$5,488,534$1,988,945$491,224$3,008,365
5$5,762,961$2,090,483$515,785$3,156,692
6$6,051,109$2,197,098$541,574$3,312,437
7$6,353,664$2,309,044$568,653$3,475,968
8$6,671,348$2,426,586$597,086$3,647,676
9$7,004,915$2,550,006$626,940$3,827,969
10$7,355,161$2,679,597$658,287$4,017,277
11$7,722,919$2,815,668$691,201$4,216,050
12$8,109,065$2,958,542$725,761$4,424,762
13$8,514,518$3,108,559$762,049$4,643,909
14$8,940,244$3,266,078$800,152$4,874,014
15$9,387,256$3,431,472$840,159$5,115,624
16$9,856,619$3,605,137$882,167$5,369,315
17$10,349,449$3,787,484$926,276$5,635,690
18$10,866,922$3,978,949$972,590$5,915,384
19$11,410,268$4,179,987$1,021,219$6,209,062
20$11,980,782$4,391,077$1,072,280$6,517,425
21$12,579,820$4,612,721$1,125,894$6,841,205
22$13,208,812$4,845,448$1,182,189$7,181,175
23$13,869,252$5,089,811$1,241,298$7,538,143
24$14,562,715$5,346,392$1,303,363$7,912,959
25$15,290,850$5,615,802$1,368,531$8,306,517
26$16,055,393$5,898,683$1,436,958$8,719,752
27$16,858,163$6,195,708$1,508,806$9,153,649
28$17,701,071$6,507,584$1,584,246$9,609,241
29$18,586,124$6,835,054$1,663,458$10,087,612
30$19,515,431$7,178,897$1,746,631$10,589,903
Total$315,000,001$115,295,632$28,192,501$171,511,870

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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.