USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $52,000,000 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, Aug 25, 2023
Jackpot:$52,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$247,777$70,049$464,848
2$821,808$262,257$73,552$486,000
3$862,899$277,460$77,229$508,209
4$906,044$293,424$81,091$531,529
5$951,346$310,186$85,145$556,015
6$998,913$327,786$89,403$581,725
7$1,048,859$346,266$93,873$608,720
8$1,101,302$365,669$98,567$637,066
9$1,156,367$386,044$103,495$666,829
10$1,214,185$407,436$108,670$698,079
11$1,274,895$429,899$114,103$730,893
12$1,338,639$453,484$119,808$765,347
13$1,405,571$478,249$125,799$801,523
14$1,475,850$504,252$132,089$839,509
15$1,549,642$531,555$138,693$879,394
16$1,627,124$560,224$145,628$921,273
17$1,708,481$590,326$152,909$965,246
18$1,793,905$621,932$160,554$1,011,418
19$1,883,600$655,120$168,582$1,059,898
20$1,977,780$689,966$177,011$1,110,802
21$2,076,669$726,555$185,862$1,164,252
22$2,180,502$764,974$195,155$1,220,374
23$2,289,527$805,313$204,913$1,279,302
24$2,404,004$847,669$215,158$1,341,176
25$2,524,204$892,143$225,916$1,406,144
26$2,650,414$938,841$237,212$1,474,361
27$2,782,935$987,874$249,073$1,545,989
28$2,922,082$1,039,358$261,526$1,621,197
29$3,068,186$1,093,416$274,603$1,700,167
30$3,221,595$1,150,178$288,333$1,783,084
Total$52,000,000$17,985,633$4,654,001$29,360,369

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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.