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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, Jul 29, 2015
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$1,783,010$445,752$156,013$1,181,244
2$1,854,330$463,583$162,254$1,228,494
3$1,928,504$482,126$168,744$1,277,634
4$2,005,644$501,411$175,494$1,328,739
5$2,085,869$521,467$182,514$1,381,888
6$2,169,304$542,326$189,814$1,437,164
7$2,256,076$564,019$197,407$1,494,651
8$2,346,319$586,580$205,303$1,554,437
9$2,440,172$610,043$213,515$1,616,614
10$2,537,779$634,445$222,056$1,681,279
11$2,639,290$659,823$230,938$1,748,530
12$2,744,862$686,215$240,175$1,818,471
13$2,854,656$713,664$249,782$1,891,210
14$2,968,843$742,211$259,774$1,966,858
15$3,087,596$771,899$270,165$2,045,533
16$3,211,100$802,775$280,971$2,127,354
17$3,339,544$834,886$292,210$2,212,448
18$3,473,126$868,281$303,899$2,300,946
19$3,612,051$903,013$316,054$2,392,984
20$3,756,533$939,133$328,697$2,488,703
21$3,906,794$976,699$341,844$2,588,251
22$4,063,066$1,015,767$355,518$2,691,781
23$4,225,589$1,056,397$369,739$2,799,453
24$4,394,612$1,098,653$384,529$2,911,431
25$4,570,397$1,142,599$399,910$3,027,888
26$4,753,213$1,188,303$415,906$3,149,003
27$4,943,341$1,235,835$432,542$3,274,963
28$5,141,075$1,285,269$449,844$3,405,962
29$5,346,718$1,336,679$467,838$3,542,201
30$5,560,586$1,390,147$486,551$3,683,889
Total$100,000,000$25,000,000$8,750,000$66,250,000
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