USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$48,496$333,333
2$568,944$169,505$50,921$348,519
3$597,391$179,462$53,467$364,463
4$627,261$190,274$56,140$380,847
5$658,624$201,879$58,947$397,799
6$691,555$214,063$61,894$415,598
7$726,133$226,857$64,989$434,287
8$762,440$240,290$68,238$453,911
9$800,562$254,396$71,650$474,516
10$840,590$269,206$75,233$496,151
11$882,619$284,757$78,994$518,868
12$926,750$301,085$82,944$542,721
13$973,088$318,230$87,091$567,766
14$1,021,742$336,232$91,446$594,064
15$1,072,829$355,135$96,018$621,676
16$1,126,471$374,982$100,819$650,670
17$1,182,794$395,822$105,860$681,113
18$1,241,934$417,703$111,153$713,078
19$1,304,031$440,679$116,711$746,641
20$1,369,232$464,804$122,546$781,882
21$1,437,694$490,134$128,674$818,886
22$1,509,578$516,732$135,107$857,739
23$1,585,057$544,659$141,863$898,536
24$1,664,310$573,983$148,956$941,372
25$1,747,526$604,772$156,404$986,350
26$1,834,902$637,102$164,224$1,033,577
27$1,926,647$671,047$172,435$1,083,165
28$2,022,980$706,690$181,057$1,135,233
29$2,124,128$744,115$190,109$1,189,904
30$2,230,335$783,412$199,615$1,247,308
Total$36,000,000$12,068,030$3,222,001$20,709,973

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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.