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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 $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:7.50% (For an out-of-state resident)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,317,921$579,480$173,844$1,564,597
2$2,433,817$608,454$182,536$1,642,827
3$2,555,508$638,877$191,663$1,724,968
4$2,683,283$670,821$201,246$1,811,216
5$2,817,447$704,362$211,309$1,901,777
6$2,958,320$739,580$221,874$1,996,866
7$3,106,236$776,559$232,968$2,096,709
8$3,261,548$815,387$244,616$2,201,545
9$3,424,625$856,156$256,847$2,311,622
10$3,595,856$898,964$269,689$2,427,203
11$3,775,649$943,912$283,174$2,548,563
12$3,964,432$991,108$297,332$2,675,991
13$4,162,653$1,040,663$312,199$2,809,791
14$4,370,786$1,092,696$327,809$2,950,280
15$4,589,325$1,147,331$344,199$3,097,794
16$4,818,791$1,204,698$361,409$3,252,684
17$5,059,731$1,264,933$379,480$3,415,318
18$5,312,717$1,328,179$398,454$3,586,084
19$5,578,353$1,394,588$418,376$3,765,388
20$5,857,271$1,464,318$439,295$3,953,658
21$6,150,134$1,537,534$461,260$4,151,341
22$6,457,641$1,614,410$484,323$4,358,908
23$6,780,523$1,695,131$508,539$4,576,853
24$7,119,549$1,779,887$533,966$4,805,696
25$7,475,527$1,868,882$560,665$5,045,981
26$7,849,303$1,962,326$588,698$5,298,280
27$8,241,768$2,060,442$618,133$5,563,194
28$8,653,857$2,163,464$649,039$5,841,353
29$9,086,550$2,271,637$681,491$6,133,421
30$9,540,877$2,385,219$715,566$6,440,092
Total$154,000,000$38,500,000$11,550,000$103,950,000
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