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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 $154,000,000 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, Aug 31, 2016
Jackpot:$154,000,000
Federal Tax:  25%
State Tax:8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,317,921$579,480$202,818$1,535,623
2$2,433,817$608,454$212,959$1,612,404
3$2,555,508$638,877$223,607$1,693,024
4$2,683,283$670,821$234,787$1,777,675
5$2,817,447$704,362$246,527$1,866,559
6$2,958,320$739,580$258,853$1,959,887
7$3,106,236$776,559$271,796$2,057,881
8$3,261,548$815,387$285,385$2,160,775
9$3,424,625$856,156$299,655$2,268,814
10$3,595,856$898,964$314,637$2,382,255
11$3,775,649$943,912$330,369$2,501,368
12$3,964,432$991,108$346,888$2,626,436
13$4,162,653$1,040,663$364,232$2,757,758
14$4,370,786$1,092,696$382,444$2,895,646
15$4,589,325$1,147,331$401,566$3,040,428
16$4,818,791$1,204,698$421,644$3,192,449
17$5,059,731$1,264,933$442,726$3,352,072
18$5,312,717$1,328,179$464,863$3,519,675
19$5,578,353$1,394,588$488,106$3,695,659
20$5,857,271$1,464,318$512,511$3,880,442
21$6,150,134$1,537,534$538,137$4,074,464
22$6,457,641$1,614,410$565,044$4,278,187
23$6,780,523$1,695,131$593,296$4,492,097
24$7,119,549$1,779,887$622,961$4,716,701
25$7,475,527$1,868,882$654,109$4,952,537
26$7,849,303$1,962,326$686,814$5,200,163
27$8,241,768$2,060,442$721,155$5,460,172
28$8,653,857$2,163,464$757,212$5,733,180
29$9,086,550$2,271,637$795,073$6,019,839
30$9,540,877$2,385,219$834,827$6,320,831
Total$154,000,000$38,500,000$13,475,000$102,025,000
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