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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 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 $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$2,184,633$538,841$3,297,100
2$6,321,603$2,296,013$565,783$3,459,806
3$6,637,683$2,412,963$594,073$3,630,647
4$6,969,567$2,535,760$623,776$3,810,031
5$7,318,045$2,664,697$654,965$3,998,383
6$7,683,948$2,800,081$687,713$4,196,153
7$8,068,145$2,942,234$722,099$4,403,812
8$8,471,552$3,091,495$758,204$4,621,854
9$8,895,130$3,248,218$796,114$4,850,798
10$9,339,886$3,412,778$835,920$5,091,188
11$9,806,881$3,585,566$877,716$5,343,599
12$10,297,225$3,766,993$921,602$5,608,630
13$10,812,086$3,957,492$967,682$5,886,912
14$11,352,690$4,157,516$1,016,066$6,179,109
15$11,920,325$4,367,540$1,066,869$6,485,915
16$12,516,341$4,588,066$1,120,213$6,808,062
17$13,142,158$4,819,619$1,176,223$7,146,316
18$13,799,266$5,062,749$1,235,034$7,501,483
19$14,489,229$5,318,035$1,296,786$7,874,408
20$15,213,691$5,586,086$1,361,625$8,265,980
21$15,974,375$5,867,539$1,429,707$8,677,130
22$16,773,094$6,163,065$1,501,192$9,108,837
23$17,611,749$6,473,367$1,576,252$9,562,130
24$18,492,336$6,799,185$1,655,064$10,038,087
25$19,416,953$7,141,293$1,737,817$10,537,843
26$20,387,801$7,500,507$1,824,708$11,062,586
27$21,407,191$7,877,681$1,915,944$11,613,566
28$22,477,550$8,273,714$2,011,741$12,192,096
29$23,601,428$8,689,548$2,112,328$12,799,551
30$24,781,499$9,126,175$2,217,944$13,437,380
Total$400,000,001$146,710,608$35,800,001$217,489,392

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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.