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Maine Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 2023

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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 $720,000,000 for a ticket purchased in Maine, 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:

Maine

Drawing Date:Fri, Jul 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$774,848$6,094,295
2$11,378,885$4,168,375$813,590$6,396,920
3$11,947,829$4,378,884$854,270$6,714,675
4$12,545,221$4,599,920$896,983$7,048,318
5$13,172,481$4,832,006$941,832$7,398,643
6$13,831,106$5,075,697$988,924$7,766,485
7$14,522,661$5,331,572$1,038,370$8,152,719
8$15,248,794$5,600,242$1,090,289$8,558,264
9$16,011,234$5,882,344$1,144,803$8,984,086
10$16,811,796$6,178,552$1,202,043$9,431,200
11$17,652,385$6,489,570$1,262,146$9,900,670
12$18,535,005$6,816,139$1,325,253$10,393,612
13$19,461,755$7,159,037$1,391,515$10,911,202
14$20,434,843$7,519,080$1,461,091$11,454,672
15$21,456,585$7,897,124$1,534,146$12,025,315
16$22,529,414$8,294,071$1,610,853$12,624,490
17$23,655,884$8,710,865$1,691,396$13,253,624
18$24,838,679$9,148,499$1,775,966$13,914,214
19$26,080,613$9,608,014$1,864,764$14,607,834
20$27,384,643$10,090,506$1,958,002$15,336,136
21$28,753,875$10,597,122$2,055,902$16,100,852
22$30,191,569$11,129,068$2,158,697$16,903,804
23$31,701,148$11,687,612$2,266,632$17,746,903
24$33,286,205$12,274,084$2,379,964$18,632,158
25$34,950,515$12,889,878$2,498,962$19,561,675
26$36,698,041$13,536,463$2,623,910$20,537,668
27$38,532,943$14,215,377$2,755,105$21,562,461
28$40,459,590$14,928,236$2,892,861$22,638,493
29$42,482,570$15,676,739$3,037,504$23,768,327
30$44,606,699$16,462,666$3,189,379$24,954,653
Total$720,000,001$265,145,632$51,480,000$403,374,368

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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.