USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jun 23, 2023

For a non-Maryland resident

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $320,000,000 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, Jun 23, 2023
Jackpot:$320,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,816,459$1,740,278$431,073$2,645,108
2$5,057,282$1,829,382$452,627$2,775,273
3$5,310,146$1,922,942$475,258$2,911,946
4$5,575,654$2,021,180$499,021$3,055,453
5$5,854,436$2,124,329$523,972$3,206,135
6$6,147,158$2,232,636$550,171$3,364,351
7$6,454,516$2,346,359$577,679$3,530,478
8$6,777,242$2,465,767$606,563$3,704,912
9$7,116,104$2,591,146$636,891$3,888,066
10$7,471,909$2,722,794$668,736$4,080,379
11$7,845,505$2,861,024$702,173$4,282,308
12$8,237,780$3,006,166$737,281$4,494,332
13$8,649,669$3,158,565$774,145$4,716,958
14$9,082,152$3,318,584$812,853$4,950,716
15$9,536,260$3,486,604$853,495$5,196,161
16$10,013,073$3,663,025$896,170$5,453,878
17$10,513,726$3,848,267$940,979$5,724,481
18$11,039,413$4,042,770$988,027$6,008,615
19$11,591,383$4,247,000$1,037,429$6,306,955
20$12,170,953$4,461,440$1,089,300$6,620,212
21$12,779,500$4,686,603$1,143,765$6,949,132
22$13,418,475$4,923,024$1,200,954$7,294,498
23$14,089,399$5,171,265$1,261,001$7,657,132
24$14,793,869$5,431,919$1,324,051$8,037,898
25$15,533,562$5,705,606$1,390,254$8,437,703
26$16,310,241$5,992,977$1,459,767$8,857,497
27$17,125,753$6,294,716$1,532,755$9,298,282
28$17,982,040$6,611,543$1,609,393$9,761,105
29$18,881,142$6,944,210$1,689,862$10,247,070
30$19,825,199$7,293,512$1,774,355$10,757,333
Total$320,000,001$117,145,633$28,640,000$174,214,367

◄ Back to Jackpot Analysis

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.