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Powerball Annuity Jackpot Analysis for Maryland

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $100,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Maryland

Drawing Date:  Wed, Jun 1, 2016
Jackpot:$100,000,000
Federal Tax:  25%
State Tax:8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,505,144$376,286$131,700$997,158
2$1,580,401$395,100$138,285$1,047,015
3$1,659,421$414,855$145,199$1,099,366
4$1,742,392$435,598$152,459$1,154,335
5$1,829,511$457,378$160,082$1,212,051
6$1,920,987$480,247$168,086$1,272,654
7$2,017,036$504,259$176,491$1,336,287
8$2,117,888$529,472$185,315$1,403,101
9$2,223,783$555,946$194,581$1,473,256
10$2,334,972$583,743$204,310$1,546,919
11$2,451,720$612,930$214,526$1,624,265
12$2,574,306$643,577$225,252$1,705,478
13$2,703,022$675,755$236,514$1,790,752
14$2,838,173$709,543$248,340$1,880,289
15$2,980,081$745,020$260,757$1,974,304
16$3,129,085$782,271$273,795$2,073,019
17$3,285,540$821,385$287,485$2,176,670
18$3,449,817$862,454$301,859$2,285,503
19$3,622,307$905,577$316,952$2,399,779
20$3,803,423$950,856$332,799$2,519,768
21$3,993,594$998,398$349,439$2,645,756
22$4,193,274$1,048,318$366,911$2,778,044
23$4,402,937$1,100,734$385,257$2,916,946
24$4,623,084$1,155,771$404,520$3,062,793
25$4,854,238$1,213,560$424,746$3,215,933
26$5,096,950$1,274,238$445,983$3,376,730
27$5,351,798$1,337,949$468,282$3,545,566
28$5,619,388$1,404,847$491,696$3,722,844
29$5,900,357$1,475,089$516,281$3,908,986
30$6,195,375$1,548,844$542,095$4,104,436
Total$100,000,000$25,000,000$8,750,000$66,250,000
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