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Maine Mega Millions Jackpot Annuity Payout Schedule for Aug 8, 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 $1,602,000,000 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 8, 2023
Jackpot:$1,602,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,112,399$8,879,775$1,724,037$13,508,587
2$25,318,019$9,325,855$1,810,238$14,181,926
3$26,583,920$9,794,238$1,900,750$14,888,931
4$27,913,117$10,286,041$1,995,788$15,631,288
5$29,308,771$10,802,433$2,095,577$16,410,761
6$30,774,210$11,344,646$2,200,356$17,229,209
7$32,312,922$11,913,969$2,310,374$18,088,579
8$33,928,567$12,511,758$2,425,893$18,990,917
9$35,624,996$13,139,436$2,547,187$19,938,372
10$37,406,245$13,798,498$2,674,547$20,933,200
11$39,276,558$14,490,514$2,808,274$21,977,770
12$41,240,385$15,217,130$2,948,688$23,074,567
13$43,302,404$15,980,077$3,096,122$24,226,205
14$45,467,525$16,781,172$3,250,928$25,435,425
15$47,740,901$17,622,321$3,413,474$26,705,105
16$50,127,947$18,505,528$3,584,148$28,038,270
17$52,634,343$19,432,895$3,763,356$29,438,093
18$55,266,060$20,406,630$3,951,523$30,907,907
19$58,029,363$21,429,052$4,149,099$32,451,211
20$60,930,832$22,502,595$4,356,554$34,071,682
21$63,977,373$23,629,816$4,574,382$35,773,175
22$67,176,241$24,813,397$4,803,101$37,559,743
23$70,535,054$26,056,158$5,043,256$39,435,640
24$74,061,806$27,361,056$5,295,419$41,405,331
25$77,764,896$28,731,199$5,560,190$43,473,507
26$81,653,142$30,169,850$5,838,200$45,645,092
27$85,735,799$31,680,433$6,130,110$47,925,256
28$90,022,588$33,266,545$6,436,615$50,319,428
29$94,523,718$34,931,963$6,758,446$52,833,308
30$99,249,904$36,680,652$7,096,368$55,472,884
Total$1,602,000,003$591,485,632$114,543,000$895,971,369

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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.