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Powerball Annuity Jackpot Analysis for Maryland

For an out-of-state resident

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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:  Sat, Mar 7, 2015
Jackpot:$100,000,000
Federal Tax:  25%
State Tax:7.00% (For an out-of-state resident)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,783,010$445,752$124,811$1,212,447
2$1,854,330$463,583$129,803$1,260,945
3$1,928,504$482,126$134,995$1,311,382
4$2,005,644$501,411$140,395$1,363,838
5$2,085,869$521,467$146,011$1,418,391
6$2,169,304$542,326$151,851$1,475,127
7$2,256,076$564,019$157,925$1,534,132
8$2,346,319$586,580$164,242$1,595,497
9$2,440,172$610,043$170,812$1,659,317
10$2,537,779$634,445$177,645$1,725,690
11$2,639,290$659,823$184,750$1,794,717
12$2,744,862$686,215$192,140$1,866,506
13$2,854,656$713,664$199,826$1,941,166
14$2,968,843$742,211$207,819$2,018,813
15$3,087,596$771,899$216,132$2,099,565
16$3,211,100$802,775$224,777$2,183,548
17$3,339,544$834,886$233,768$2,270,890
18$3,473,126$868,281$243,119$2,361,726
19$3,612,051$903,013$252,844$2,456,195
20$3,756,533$939,133$262,957$2,554,442
21$3,906,794$976,699$273,476$2,656,620
22$4,063,066$1,015,767$284,415$2,762,885
23$4,225,589$1,056,397$295,791$2,873,400
24$4,394,612$1,098,653$307,623$2,988,336
25$4,570,397$1,142,599$319,928$3,107,870
26$4,753,213$1,188,303$332,725$3,232,185
27$4,943,341$1,235,835$346,034$3,361,472
28$5,141,075$1,285,269$359,875$3,495,931
29$5,346,718$1,336,679$374,270$3,635,768
30$5,560,586$1,390,147$389,241$3,781,199
Total$100,000,000$25,000,000$7,000,000$68,000,000
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