USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $122,000,000 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, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$164,347$1,034,319
2$1,928,089$671,581$172,564$1,083,944
3$2,024,493$707,250$181,192$1,136,051
4$2,125,718$744,703$190,252$1,190,763
5$2,232,004$784,029$199,764$1,248,210
6$2,343,604$825,321$209,753$1,308,530
7$2,460,784$868,678$220,240$1,371,866
8$2,583,823$914,202$231,252$1,438,369
9$2,713,015$962,003$242,815$1,508,197
10$2,848,665$1,012,194$254,956$1,581,516
11$2,991,099$1,064,894$267,703$1,658,501
12$3,140,654$1,120,230$281,088$1,739,336
13$3,297,686$1,178,332$295,143$1,824,212
14$3,462,571$1,239,339$309,900$1,913,332
15$3,635,699$1,303,396$325,395$2,006,908
16$3,817,484$1,370,657$341,665$2,105,162
17$4,008,358$1,441,280$358,748$2,208,330
18$4,208,776$1,515,435$376,685$2,316,656
19$4,419,215$1,593,297$395,520$2,430,398
20$4,640,176$1,675,053$415,296$2,549,827
21$4,872,184$1,760,896$436,061$2,675,228
22$5,115,794$1,851,031$457,864$2,806,899
23$5,371,583$1,945,674$480,757$2,945,153
24$5,640,162$2,045,048$504,795$3,090,320
25$5,922,171$2,149,391$530,034$3,242,745
26$6,218,279$2,258,951$556,536$3,402,792
27$6,529,193$2,373,989$584,363$3,570,841
28$6,855,653$2,494,779$613,581$3,747,293
29$7,198,435$2,621,609$644,260$3,932,567
30$7,558,357$2,754,780$676,473$4,127,104
Total$122,000,000$43,885,632$10,919,002$67,195,369

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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.