USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 2023

For a non-Maryland resident

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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 $640,000,000 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, Jul 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,522,368$862,146$5,248,405
2$10,114,564$3,700,577$905,254$5,508,734
3$10,620,292$3,887,696$950,516$5,782,080
4$11,151,308$4,084,172$998,042$6,069,094
5$11,708,872$4,290,471$1,047,944$6,370,458
6$12,294,316$4,507,085$1,100,341$6,686,890
7$12,909,032$4,734,530$1,155,358$7,019,144
8$13,554,484$4,973,347$1,213,126$7,368,011
9$14,232,208$5,224,105$1,273,783$7,734,321
10$14,943,818$5,487,400$1,337,472$8,118,946
11$15,691,009$5,763,861$1,404,345$8,522,803
12$16,475,560$6,054,145$1,474,563$8,946,852
13$17,299,338$6,358,943$1,548,291$9,392,104
14$18,164,305$6,678,980$1,625,705$9,859,619
15$19,072,520$7,015,020$1,706,991$10,350,509
16$20,026,146$7,367,862$1,792,340$10,865,944
17$21,027,453$7,738,345$1,881,957$11,407,150
18$22,078,826$8,127,353$1,976,055$11,975,417
19$23,182,767$8,535,811$2,074,858$12,572,098
20$24,341,905$8,964,693$2,178,601$13,198,612
21$25,559,000$9,415,018$2,287,531$13,856,452
22$26,836,950$9,887,859$2,401,907$14,547,184
23$28,178,798$10,384,343$2,522,002$15,272,453
24$29,587,738$10,905,651$2,648,103$16,033,984
25$31,067,124$11,453,024$2,780,508$16,833,593
26$32,620,481$12,027,766$2,919,533$17,673,182
27$34,251,505$12,631,245$3,065,510$18,554,751
28$35,964,080$13,264,897$3,218,785$19,480,397
29$37,762,284$13,930,233$3,379,724$20,452,327
30$39,650,399$14,628,835$3,548,711$21,472,853
Total$640,000,001$235,545,635$57,280,002$347,174,367

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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.