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Maryland Mega Millions Jackpot Annuity Payout Schedule for Sep 12, 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 $141,000,000 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, Sep 12, 2023
Jackpot:$141,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,122,252$743,421$189,942$1,188,890
2$2,228,365$782,683$199,439$1,246,244
3$2,339,783$823,908$209,411$1,306,465
4$2,456,772$867,194$219,881$1,369,698
5$2,579,611$912,644$230,875$1,436,092
6$2,708,592$960,367$242,419$1,505,806
7$2,844,021$1,010,476$254,540$1,579,006
8$2,986,222$1,063,090$267,267$1,655,865
9$3,135,533$1,118,335$280,630$1,736,568
10$3,292,310$1,176,342$294,662$1,821,306
11$3,456,925$1,237,250$309,395$1,910,280
12$3,629,772$1,301,203$324,865$2,003,704
13$3,811,260$1,368,354$341,108$2,101,798
14$4,001,823$1,438,862$358,163$2,204,798
15$4,201,914$1,512,896$376,071$2,312,947
16$4,412,010$1,590,632$394,875$2,426,504
17$4,632,611$1,672,254$414,619$2,545,738
18$4,864,241$1,757,957$435,350$2,670,935
19$5,107,453$1,847,945$457,117$2,802,391
20$5,362,826$1,942,433$479,973$2,940,420
21$5,630,967$2,041,646$503,972$3,085,350
22$5,912,516$2,145,819$529,170$3,237,527
23$6,208,141$2,255,200$555,629$3,397,313
24$6,518,548$2,370,051$583,410$3,565,088
25$6,844,476$2,490,644$612,581$3,741,251
26$7,186,700$2,617,267$643,210$3,926,223
27$7,546,035$2,750,221$675,370$4,120,444
28$7,923,336$2,889,822$709,139$4,324,376
29$8,319,503$3,036,404$744,596$4,538,504
30$8,735,478$3,190,315$781,825$4,763,338
Total$141,000,000$50,915,635$12,619,504$77,464,869

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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.