USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Jun 18, 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 $61,000,000 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, Jun 18, 2024
Jackpot:$61,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$918,138$297,899$82,173$538,066
2$964,044$314,884$86,282$562,878
3$1,012,247$332,719$90,596$588,932
4$1,062,859$351,446$95,126$616,288
5$1,116,002$371,108$99,882$645,011
6$1,171,802$391,754$104,876$675,171
7$1,230,392$413,433$110,120$706,839
8$1,291,912$436,195$115,626$740,091
9$1,356,507$460,095$121,407$775,004
10$1,424,333$485,191$127,478$811,664
11$1,495,549$511,541$133,852$850,157
12$1,570,327$539,209$140,544$890,574
13$1,648,843$568,260$147,571$933,012
14$1,731,285$598,763$154,950$977,572
15$1,817,850$630,792$162,698$1,024,360
16$1,908,742$664,422$170,832$1,073,487
17$2,004,179$699,734$179,374$1,125,071
18$2,104,388$736,811$188,343$1,179,234
19$2,209,607$775,743$197,760$1,236,105
20$2,320,088$816,620$207,648$1,295,820
21$2,436,092$859,542$218,030$1,358,520
22$2,557,897$904,610$228,932$1,424,355
23$2,685,792$951,931$240,378$1,493,483
24$2,820,081$1,001,618$252,397$1,566,066
25$2,961,085$1,053,789$265,017$1,642,279
26$3,109,140$1,108,569$278,268$1,722,302
27$3,264,597$1,166,088$292,181$1,806,327
28$3,427,826$1,226,484$306,790$1,894,552
29$3,599,218$1,289,898$322,130$1,987,189
30$3,779,179$1,356,484$338,236$2,084,458
Total$61,000,000$21,315,632$5,459,497$34,224,867

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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.