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Maine Mega Millions Jackpot Annuity Payout Schedule for Aug 1, 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 $1,100,000,000 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:Tue, Aug 1, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$1,183,795$9,288,661
2$17,384,408$6,390,419$1,242,985$9,751,004
3$18,253,628$6,712,030$1,305,134$10,236,463
4$19,166,310$7,049,722$1,370,391$10,746,196
5$20,124,624$7,404,299$1,438,911$11,281,415
6$21,130,856$7,776,604$1,510,856$11,843,395
7$22,187,399$8,167,525$1,586,399$12,433,475
8$23,296,769$8,577,992$1,665,719$13,053,058
9$24,461,608$9,008,983$1,749,005$13,703,620
10$25,684,688$9,461,522$1,836,455$14,386,710
11$26,968,922$9,936,689$1,928,278$15,103,955
12$28,317,368$10,435,614$2,024,692$15,857,062
13$29,733,237$10,959,485$2,125,926$16,647,825
14$31,219,899$11,509,550$2,232,223$17,478,126
15$32,780,893$12,087,118$2,343,834$18,349,941
16$34,419,938$12,693,565$2,461,026$19,265,348
17$36,140,935$13,330,334$2,584,077$20,226,524
18$37,947,982$13,998,941$2,713,281$21,235,760
19$39,845,380$14,700,978$2,848,945$22,295,457
20$41,837,650$15,438,118$2,991,392$23,408,140
21$43,929,532$16,212,115$3,140,962$24,576,456
22$46,126,009$17,024,811$3,298,010$25,803,188
23$48,432,309$17,878,142$3,462,910$27,091,257
24$50,853,924$18,774,140$3,636,056$28,443,729
25$53,396,620$19,714,937$3,817,858$29,863,825
26$56,066,452$20,702,775$4,008,751$31,354,926
27$58,869,775$21,740,004$4,209,189$32,920,581
28$61,813,263$22,829,095$4,419,648$34,564,519
29$64,903,926$23,972,640$4,640,631$36,290,655
30$68,149,123$25,173,363$4,872,662$38,103,097
Total$1,100,000,002$405,745,632$78,650,001$615,604,368

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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.