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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 $135,000,000 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, Jan 18, 2017
Jackpot:$135,000,000
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$2,031,944$507,986$152,396$1,371,562
2$2,133,541$533,385$160,016$1,440,140
3$2,240,218$560,054$168,016$1,512,147
4$2,352,229$588,057$176,417$1,587,755
5$2,469,840$617,460$185,238$1,667,142
6$2,593,332$648,333$194,500$1,750,499
7$2,722,999$680,750$204,225$1,838,024
8$2,859,149$714,787$214,436$1,929,926
9$3,002,106$750,527$225,158$2,026,422
10$3,152,212$788,053$236,416$2,127,743
11$3,309,822$827,456$248,237$2,234,130
12$3,475,313$868,828$260,649$2,345,837
13$3,649,079$912,270$273,681$2,463,128
14$3,831,533$957,883$287,365$2,586,285
15$4,023,110$1,005,777$301,733$2,715,599
16$4,224,265$1,056,066$316,820$2,851,379
17$4,435,478$1,108,870$332,661$2,993,948
18$4,657,252$1,164,313$349,294$3,143,645
19$4,890,115$1,222,529$366,759$3,300,828
20$5,134,621$1,283,655$385,097$3,465,869
21$5,391,352$1,347,838$404,351$3,639,162
22$5,660,919$1,415,230$424,569$3,821,120
23$5,943,965$1,485,991$445,797$4,012,177
24$6,241,163$1,560,291$468,087$4,212,785
25$6,553,222$1,638,305$491,492$4,423,425
26$6,880,883$1,720,221$516,066$4,644,596
27$7,224,927$1,806,232$541,870$4,876,826
28$7,586,173$1,896,543$568,963$5,120,667
29$7,965,482$1,991,370$597,411$5,376,700
30$8,363,756$2,090,939$627,282$5,645,535
Total$135,000,000$33,750,000$10,125,000$91,125,000
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