USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 2024

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 $425,000,000 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, Feb 13, 2024
Jackpot:$425,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,396,860$2,325,026$572,519$3,499,315
2$6,716,703$2,443,368$601,145$3,672,190
3$7,052,538$2,567,627$631,202$3,853,709
4$7,405,165$2,698,099$662,762$4,044,304
5$7,775,423$2,835,094$695,900$4,244,428
6$8,164,194$2,978,940$730,695$4,454,559
7$8,572,404$3,129,977$767,230$4,675,197
8$9,001,024$3,288,567$805,592$4,906,866
9$9,451,076$3,455,086$845,871$5,150,119
10$9,923,629$3,629,931$888,165$5,405,534
11$10,419,811$3,813,518$932,573$5,673,720
12$10,940,801$4,006,284$979,202$5,955,315
13$11,487,841$4,208,689$1,028,162$6,250,991
14$12,062,234$4,421,214$1,079,570$6,561,449
15$12,665,345$4,644,365$1,133,548$6,887,431
16$13,298,613$4,878,674$1,190,226$7,229,712
17$13,963,543$5,124,699$1,249,737$7,589,107
18$14,661,720$5,383,024$1,312,224$7,966,472
19$15,394,806$5,654,266$1,377,835$8,362,705
20$16,164,546$5,939,070$1,446,727$8,778,750
21$16,972,774$6,238,114$1,519,063$9,215,596
22$17,821,412$6,552,110$1,595,016$9,674,286
23$18,712,483$6,881,806$1,674,767$10,155,909
24$19,648,107$7,227,987$1,758,506$10,661,614
25$20,630,512$7,591,477$1,846,431$11,192,604
26$21,662,038$7,973,142$1,938,752$11,750,144
27$22,745,140$8,373,890$2,035,690$12,335,561
28$23,882,397$8,794,675$2,137,475$12,950,248
29$25,076,517$9,236,499$2,244,348$13,595,670
30$26,330,343$9,700,415$2,356,566$14,273,363
Total$425,000,001$155,995,633$38,037,499$230,966,868

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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.