USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Maryland (Nov. 3, 2018 Drawing)

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $53,000,000 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:  Nov. 3, 2018
Jackpot:$53,000,000
Federal Tax:  24%
State Tax:8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$797,726$191,454$71,396$534,875
2$837,612$201,027$74,966$561,619
3$879,493$211,078$78,715$589,700
4$923,468$221,632$82,650$619,185
5$969,641$232,714$86,783$650,144
6$1,018,123$244,350$91,122$682,652
7$1,069,029$256,567$95,678$716,784
8$1,122,481$269,395$100,462$752,623
9$1,178,605$282,865$105,485$790,254
10$1,237,535$297,008$110,759$829,767
11$1,299,412$311,859$116,297$871,256
12$1,364,382$327,452$122,112$914,818
13$1,432,601$343,824$128,218$960,559
14$1,504,231$361,016$134,629$1,008,587
15$1,579,443$379,066$141,360$1,059,017
16$1,658,415$398,020$148,428$1,111,967
17$1,741,336$417,921$155,850$1,167,566
18$1,828,403$438,817$163,642$1,225,944
19$1,919,823$460,757$171,824$1,287,241
20$2,015,814$483,795$180,415$1,351,603
21$2,116,605$507,985$189,436$1,419,183
22$2,222,435$533,384$198,908$1,490,143
23$2,333,557$560,054$208,853$1,564,650
24$2,450,235$588,056$219,296$1,642,882
25$2,572,746$617,459$230,261$1,725,026
26$2,701,384$648,332$241,774$1,811,278
27$2,836,453$680,749$253,863$1,901,842
28$2,978,275$714,786$266,556$1,996,934
29$3,127,189$750,525$279,883$2,096,780
30$3,283,549$788,052$293,878$2,201,619
Total$53,000,000$12,720,000$4,743,500$35,536,500
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.