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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 $67,000,000 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, Dec 7, 2016
Jackpot:$67,000,000
Federal Tax:  25%
State Tax:7.50% (For an out-of-state resident)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$252,112$75,633$680,701
2$1,058,868$264,717$79,415$714,736
3$1,111,812$277,953$83,386$750,473
4$1,167,403$291,851$87,555$787,997
5$1,225,773$306,443$91,933$827,396
6$1,287,061$321,765$96,530$868,766
7$1,351,414$337,854$101,356$912,205
8$1,418,985$354,746$106,424$957,815
9$1,489,934$372,484$111,745$1,005,706
10$1,564,431$391,108$117,332$1,055,991
11$1,642,653$410,663$123,199$1,108,790
12$1,724,785$431,196$129,359$1,164,230
13$1,811,024$452,756$135,827$1,222,441
14$1,901,576$475,394$142,618$1,283,564
15$1,996,654$499,164$149,749$1,347,742
16$2,096,487$524,122$157,237$1,415,129
17$2,201,311$550,328$165,098$1,485,885
18$2,311,377$577,844$173,353$1,560,180
19$2,426,946$606,736$182,021$1,638,188
20$2,548,293$637,073$191,122$1,720,098
21$2,675,708$668,927$200,678$1,806,103
22$2,809,493$702,373$210,712$1,896,408
23$2,949,968$737,492$221,248$1,991,228
24$3,097,466$774,367$232,310$2,090,790
25$3,252,340$813,085$243,925$2,195,329
26$3,414,957$853,739$256,122$2,305,096
27$3,585,704$896,426$268,928$2,420,351
28$3,764,990$941,247$282,374$2,541,368
29$3,953,239$988,310$296,493$2,668,436
30$4,150,901$1,037,725$311,318$2,801,858
Total$67,000,000$16,750,000$5,025,000$45,225,000
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