USA Mega

Maryland Mega Millions Jackpot Annuity Payout Schedule for Sep 17, 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 $31,000,000 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, Sep 17, 2024
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$133,683$41,760$291,151
2$489,924$141,848$43,848$304,228
3$514,420$150,422$46,041$317,958
4$540,141$159,424$48,343$332,375
5$567,149$168,877$50,760$347,512
6$595,506$178,802$53,298$363,406
7$625,281$189,542$55,963$379,777
8$656,545$201,110$58,761$396,675
9$689,373$213,256$61,699$414,418
10$723,841$226,009$64,784$433,048
11$760,033$239,400$68,023$452,610
12$798,035$253,461$71,424$473,150
13$837,937$268,224$74,995$494,717
14$879,834$283,726$78,745$517,362
15$923,825$300,003$82,682$541,140
16$970,016$317,094$86,816$566,106
17$1,018,517$335,039$91,157$592,321
18$1,069,443$353,882$95,715$619,846
19$1,122,915$373,666$100,501$648,748
20$1,179,061$394,440$105,526$679,095
21$1,238,014$416,253$110,802$710,959
22$1,299,915$439,156$116,342$744,416
23$1,364,911$463,205$122,159$779,546
24$1,433,156$488,455$128,267$816,433
25$1,504,814$514,969$134,681$855,164
26$1,580,055$542,808$141,415$895,832
27$1,659,057$572,039$148,486$938,533
28$1,742,010$602,731$155,910$983,369
29$1,829,111$634,959$163,705$1,030,447
30$1,920,566$668,797$171,891$1,079,878
Total$31,000,000$10,225,280$2,774,499$18,000,220

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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.