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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 $136,000,000 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:  Sat, Apr 20, 2019
Jackpot:$136,000,000
Federal Tax:  24%
State Tax:8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,046,995$491,279$179,112$1,376,604
2$2,149,345$515,843$188,068$1,445,434
3$2,256,812$541,635$197,471$1,517,706
4$2,369,653$568,717$207,345$1,593,592
5$2,488,135$597,152$217,712$1,673,271
6$2,612,542$627,010$228,597$1,756,935
7$2,743,169$658,361$240,027$1,844,781
8$2,880,328$691,279$252,029$1,937,020
9$3,024,344$725,843$264,630$2,033,871
10$3,175,561$762,135$277,862$2,135,565
11$3,334,339$800,241$291,755$2,242,343
12$3,501,056$840,254$306,342$2,354,460
13$3,676,109$882,266$321,660$2,472,183
14$3,859,915$926,380$337,743$2,595,793
15$4,052,910$972,699$354,630$2,725,582
16$4,255,556$1,021,333$372,361$2,861,861
17$4,468,334$1,072,400$390,979$3,004,954
18$4,691,750$1,126,020$410,528$3,155,202
19$4,926,338$1,182,321$431,055$3,312,962
20$5,172,655$1,241,437$452,607$3,478,610
21$5,431,288$1,303,509$475,238$3,652,541
22$5,702,852$1,368,684$499,000$3,835,168
23$5,987,995$1,437,119$523,950$4,026,926
24$6,287,394$1,508,975$550,147$4,228,273
25$6,601,764$1,584,423$577,654$4,439,686
26$6,931,852$1,663,645$606,537$4,661,671
27$7,278,445$1,746,827$636,864$4,894,754
28$7,642,367$1,834,168$668,707$5,139,492
29$8,024,485$1,925,876$702,142$5,396,466
30$8,425,710$2,022,170$737,250$5,666,290
Total$136,000,000$32,640,000$11,900,000$91,460,000
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