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

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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 $435,000,000 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, Aug 13, 2024
Jackpot:$435,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,547,374$2,380,716$585,990$3,580,668
2$6,874,743$2,501,843$615,290$3,757,611
3$7,218,480$2,629,025$646,054$3,943,401
4$7,579,404$2,762,567$678,357$4,138,480
5$7,958,374$2,902,786$712,274$4,343,313
6$8,356,293$3,050,016$747,888$4,558,389
7$8,774,108$3,204,608$785,283$4,784,218
8$9,212,813$3,366,929$824,547$5,021,338
9$9,673,454$3,537,366$865,774$5,270,314
10$10,157,126$3,716,325$909,063$5,531,739
11$10,664,983$3,904,231$954,516$5,806,235
12$11,198,232$4,101,534$1,002,242$6,094,457
13$11,758,144$4,308,701$1,052,354$6,397,089
14$12,346,051$4,526,227$1,104,972$6,714,853
15$12,963,353$4,754,628$1,160,220$7,048,505
16$13,611,521$4,994,451$1,218,231$7,398,839
17$14,292,097$5,246,264$1,279,143$7,766,691
18$15,006,702$5,510,667$1,343,100$8,152,935
19$15,757,037$5,788,291$1,410,255$8,558,491
20$16,544,889$6,079,797$1,480,768$8,984,325
21$17,372,133$6,385,877$1,554,806$9,431,450
22$18,240,740$6,707,261$1,632,546$9,900,932
23$19,152,777$7,044,715$1,714,174$10,393,888
24$20,110,415$7,399,041$1,799,882$10,911,492
25$21,115,936$7,771,084$1,889,876$11,454,976
26$22,171,733$8,161,729$1,984,370$12,025,634
27$23,280,320$8,571,906$2,083,589$12,624,825
28$24,444,336$9,002,592$2,187,768$13,253,976
29$25,666,553$9,454,812$2,297,156$13,914,584
30$26,949,880$9,929,643$2,412,014$14,608,223
Total$435,000,001$159,695,632$38,932,502$236,371,871

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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.