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Maryland Mega Millions Jackpot Annuity Payout Schedule for Jul 4, 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 $400,000,000 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 4, 2023
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$538,841$3,295,932
2$6,321,603$2,297,181$565,783$3,458,639
3$6,637,683$2,414,130$594,073$3,629,480
4$6,969,567$2,536,928$623,776$3,808,863
5$7,318,045$2,665,864$654,965$3,997,216
6$7,683,948$2,801,248$687,713$4,194,986
7$8,068,145$2,943,401$722,099$4,402,645
8$8,471,552$3,092,662$758,204$4,620,686
9$8,895,130$3,249,386$796,114$4,849,630
10$9,339,886$3,413,946$835,920$5,090,021
11$9,806,881$3,586,734$877,716$5,342,431
12$10,297,225$3,768,161$921,602$5,607,462
13$10,812,086$3,958,660$967,682$5,885,745
14$11,352,690$4,158,683$1,016,066$6,177,941
15$11,920,325$4,368,708$1,066,869$6,484,748
16$12,516,341$4,589,234$1,120,213$6,806,895
17$13,142,158$4,820,786$1,176,223$7,145,149
18$13,799,266$5,063,916$1,235,034$7,500,316
19$14,489,229$5,319,203$1,296,786$7,873,241
20$15,213,691$5,587,253$1,361,625$8,264,812
21$15,974,375$5,868,707$1,429,707$8,675,962
22$16,773,094$6,164,233$1,501,192$9,107,670
23$17,611,749$6,474,535$1,576,252$9,560,962
24$18,492,336$6,800,352$1,655,064$10,036,920
25$19,416,953$7,142,460$1,737,817$10,536,675
26$20,387,801$7,501,674$1,824,708$11,061,419
27$21,407,191$7,878,848$1,915,944$11,612,399
28$22,477,550$8,274,881$2,011,741$12,190,928
29$23,601,428$8,690,716$2,112,328$12,798,384
30$24,781,499$9,127,342$2,217,944$13,436,213
Total$400,000,001$146,745,632$35,800,001$217,454,370

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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.