USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jul 7, 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 $450,000,000 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 7, 2023
Jackpot:$450,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,773,146$2,464,252$606,197$3,702,698
2$7,111,803$2,589,555$636,506$3,885,742
3$7,467,393$2,721,123$668,332$4,077,938
4$7,840,763$2,859,270$701,748$4,279,745
5$8,232,801$3,004,324$736,836$4,491,641
6$8,644,441$3,156,631$773,677$4,714,133
7$9,076,663$3,316,553$812,361$4,947,749
8$9,530,496$3,484,471$852,979$5,193,046
9$10,007,021$3,660,786$895,628$5,450,607
10$10,507,372$3,845,915$940,410$5,721,047
11$11,032,741$4,040,302$987,430$6,005,009
12$11,584,378$4,244,408$1,036,802$6,303,169
13$12,163,597$4,458,719$1,088,642$6,616,236
14$12,771,777$4,683,745$1,143,074$6,944,958
15$13,410,365$4,920,023$1,200,228$7,290,115
16$14,080,884$5,168,115$1,260,239$7,652,530
17$14,784,928$5,428,611$1,323,251$8,033,066
18$15,524,174$5,702,132$1,389,414$8,432,628
19$16,300,383$5,989,329$1,458,884$8,852,169
20$17,115,402$6,290,887$1,531,828$9,292,687
21$17,971,172$6,607,521$1,608,420$9,755,231
22$18,869,731$6,939,988$1,688,841$10,240,902
23$19,813,217$7,289,078$1,773,283$10,750,856
24$20,803,878$7,655,623$1,861,947$11,286,308
25$21,844,072$8,040,494$1,955,044$11,848,533
26$22,936,276$8,444,610$2,052,797$12,438,869
27$24,083,090$8,868,931$2,155,437$13,058,722
28$25,287,244$9,314,468$2,263,208$13,709,567
29$26,551,606$9,782,282$2,376,369$14,392,955
30$27,879,187$10,273,487$2,495,187$15,110,513
Total$450,000,001$165,245,633$40,274,999$244,479,369

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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.