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Maryland Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 2024

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The tax information provided here is based on 2025 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 $262,000,000 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, Jan 23, 2024
Jackpot:$262,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,943,476$1,416,106$352,941$2,174,429
2$4,140,650$1,489,061$370,588$2,281,001
3$4,347,682$1,565,663$389,118$2,392,902
4$4,565,067$1,646,095$408,573$2,510,398
5$4,793,320$1,730,549$429,002$2,633,769
6$5,032,986$1,819,225$450,452$2,763,309
7$5,284,635$1,912,335$472,975$2,899,325
8$5,548,867$2,010,101$496,624$3,042,142
9$5,826,310$2,112,755$521,455$3,192,100
10$6,117,626$2,220,542$547,527$3,349,556
11$6,423,507$2,333,718$574,904$3,514,885
12$6,744,682$2,452,553$603,649$3,688,481
13$7,081,916$2,577,329$633,832$3,870,756
14$7,436,012$2,708,345$665,523$4,062,144
15$7,807,813$2,845,911$698,799$4,263,103
16$8,198,203$2,990,356$733,739$4,474,109
17$8,608,113$3,142,022$770,426$4,695,665
18$9,038,519$3,301,272$808,947$4,928,299
19$9,490,445$3,468,485$849,395$5,172,565
20$9,964,967$3,644,058$891,865$5,429,045
21$10,463,216$3,828,410$936,458$5,698,348
22$10,986,377$4,021,980$983,281$5,981,116
23$11,535,695$4,225,228$1,032,445$6,278,023
24$12,112,480$4,438,638$1,084,067$6,589,775
25$12,718,104$4,662,719$1,138,270$6,917,115
26$13,354,010$4,898,004$1,195,184$7,260,822
27$14,021,710$5,145,053$1,254,943$7,621,714
28$14,722,795$5,404,454$1,317,690$8,000,651
29$15,458,935$5,676,826$1,383,575$8,398,534
30$16,231,882$5,962,817$1,452,753$8,816,312
Total$262,000,001$95,650,610$23,449,000$142,900,393

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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.