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Maryland Mega Millions Jackpot Annuity Payout Schedule for Jul 14, 2023

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The tax information provided here is based on 2025 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 $560,000,000 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, Jul 14, 2023
Jackpot:$560,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,428,804$3,075,678$754,378$4,598,748
2$8,850,244$3,231,611$792,097$4,826,537
3$9,292,756$3,395,340$831,702$5,065,714
4$9,757,394$3,567,256$873,287$5,316,851
5$10,245,263$3,747,768$916,951$5,580,545
6$10,757,527$3,937,305$962,799$5,857,423
7$11,295,403$4,136,319$1,010,939$6,148,145
8$11,860,173$4,345,284$1,061,486$6,453,403
9$12,453,182$4,564,698$1,114,560$6,773,925
10$13,075,841$4,795,081$1,170,288$7,110,472
11$13,729,633$5,036,985$1,228,802$7,463,846
12$14,416,115$5,290,983$1,290,242$7,834,890
13$15,136,920$5,557,681$1,354,754$8,224,485
14$15,893,767$5,837,714$1,422,492$8,633,561
15$16,688,455$6,131,748$1,493,617$9,063,090
16$17,522,878$6,440,485$1,568,298$9,514,095
17$18,399,021$6,764,658$1,646,712$9,987,651
18$19,318,972$7,105,040$1,729,048$10,484,884
19$20,284,921$7,462,441$1,815,500$11,006,979
20$21,299,167$7,837,712$1,906,275$11,555,180
21$22,364,125$8,231,747$2,001,589$12,130,789
22$23,482,332$8,645,483$2,101,669$12,735,180
23$24,656,448$9,079,906$2,206,752$13,369,790
24$25,889,270$9,536,050$2,317,090$14,036,130
25$27,183,734$10,015,002$2,432,944$14,735,788
26$28,542,921$10,517,901$2,554,591$15,470,429
27$29,970,067$11,045,945$2,682,321$16,241,801
28$31,468,570$11,600,391$2,816,437$17,051,742
29$33,041,999$12,182,560$2,957,259$17,902,180
30$34,694,099$12,793,837$3,105,122$18,795,140
Total$560,000,001$205,910,609$50,120,001$303,969,393

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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.