USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Aug 23, 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 $535,000,000 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, Aug 23, 2024
Jackpot:$535,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,052,518$2,937,619$720,700$4,394,198
2$8,455,144$3,086,591$756,735$4,611,817
3$8,877,901$3,243,011$794,572$4,840,318
4$9,321,796$3,407,252$834,301$5,080,243
5$9,787,885$3,579,705$876,016$5,332,164
6$10,277,280$3,760,781$919,817$5,596,682
7$10,791,144$3,950,911$965,807$5,874,426
8$11,330,701$4,150,547$1,014,098$6,166,056
9$11,897,236$4,360,165$1,064,803$6,472,269
10$12,492,098$4,580,264$1,118,043$6,793,791
11$13,116,703$4,811,368$1,173,945$7,131,390
12$13,772,538$5,054,027$1,232,642$7,485,869
13$14,461,165$5,308,819$1,294,274$7,858,072
14$15,184,223$5,576,350$1,358,988$8,248,885
15$15,943,434$5,857,258$1,426,937$8,659,239
16$16,740,606$6,152,212$1,498,284$9,090,110
17$17,577,636$6,461,913$1,573,198$9,542,525
18$18,456,518$6,787,100$1,651,858$10,017,560
19$19,379,344$7,128,545$1,734,451$10,516,348
20$20,348,311$7,487,063$1,821,174$11,040,075
21$21,365,727$7,863,507$1,912,233$11,589,988
22$22,434,013$8,258,773$2,007,844$12,167,396
23$23,555,714$8,673,802$2,108,236$12,773,676
24$24,733,499$9,109,583$2,213,648$13,410,269
25$25,970,174$9,567,152$2,324,331$14,078,691
26$27,268,684$10,047,601$2,440,547$14,780,536
27$28,632,118$10,552,071$2,562,575$15,517,472
28$30,063,723$11,081,765$2,690,703$16,291,255
29$31,566,909$11,637,944$2,825,238$17,103,727
30$33,145,255$12,221,932$2,966,500$17,956,823
Total$535,000,001$196,695,631$47,882,498$290,421,870

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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.