USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Feb 6, 2023

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $747,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Maryland

Drawing Date:Mon, Feb 6, 2023
Jackpot:$747,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$11,243,422$4,123,021$1,006,286$6,114,115
2$11,805,593$4,331,024$1,056,601$6,417,968
3$12,395,873$4,549,428$1,109,431$6,737,014
4$13,015,667$4,778,752$1,164,902$7,072,013
5$13,666,449$5,019,541$1,223,147$7,423,761
6$14,349,772$5,272,371$1,284,305$7,793,097
7$15,067,261$5,537,842$1,348,520$8,180,900
8$15,820,624$5,816,586$1,415,946$8,588,092
9$16,611,655$6,109,267$1,486,743$9,015,645
10$17,442,238$6,416,583$1,561,080$9,464,575
11$18,314,350$6,739,264$1,639,134$9,935,951
12$19,230,067$7,078,080$1,721,091$10,430,896
13$20,191,571$7,433,836$1,807,146$10,950,589
14$21,201,149$7,807,380$1,897,503$11,496,266
15$22,261,207$8,199,601$1,992,378$12,069,227
16$23,374,267$8,611,434$2,091,997$12,670,836
17$24,542,980$9,043,858$2,196,597$13,302,526
18$25,770,129$9,497,903$2,306,427$13,965,800
19$27,058,636$9,974,650$2,421,748$14,662,238
20$28,411,568$10,475,235$2,542,835$15,393,497
21$29,832,146$11,000,849$2,669,977$16,161,320
22$31,323,753$11,552,744$2,803,476$16,967,534
23$32,889,941$12,132,233$2,943,650$17,814,058
24$34,534,437$12,740,697$3,090,832$18,702,908
25$36,261,159$13,379,584$3,245,374$19,636,202
26$38,074,218$14,050,416$3,407,643$20,616,160
27$39,977,929$14,754,789$3,578,025$21,645,116
28$41,976,825$15,494,380$3,756,926$22,725,519
29$44,075,666$16,270,951$3,944,772$23,859,942
30$46,279,450$17,086,351$4,142,011$25,051,088
Total$747,000,001$275,278,650$66,856,503$404,864,853

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.