USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Dec 21, 1996

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The tax information provided here is based on 2024 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 $41,600,000 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 money, as well as deductions claimed.

State:

Maryland

Drawing Date:Sat, Dec 21, 1996
Jackpot:$41,600,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$741,732$232,629$66,385$442,718
2$771,401$243,606$69,040$458,755
3$802,257$255,023$71,802$475,432
4$834,348$266,896$74,674$492,777
5$867,722$279,245$77,661$510,816
6$902,431$292,087$80,768$529,576
7$938,528$305,443$83,998$549,087
8$976,069$319,333$87,358$569,377
9$1,015,112$333,779$90,852$590,480
10$1,055,716$348,803$94,487$612,427
11$1,097,945$364,427$98,266$635,251
12$1,141,863$380,677$102,197$658,989
13$1,187,537$397,576$106,285$683,676
14$1,235,039$415,152$110,536$709,351
15$1,284,440$433,431$114,957$736,052
16$1,335,818$452,440$119,556$763,822
17$1,389,250$472,210$124,338$792,702
18$1,444,820$492,771$129,311$822,738
19$1,502,613$514,155$134,484$853,975
20$1,562,718$536,393$139,863$886,461
21$1,625,226$559,522$145,458$920,247
22$1,690,235$583,575$151,276$955,385
23$1,757,845$608,590$157,327$991,927
24$1,828,159$634,606$163,620$1,029,932
25$1,901,285$661,663$170,165$1,069,457
26$1,977,336$689,802$176,972$1,110,563
27$2,056,430$719,067$184,050$1,153,313
28$2,138,687$749,502$191,412$1,197,773
29$2,224,235$781,155$199,069$1,244,011
30$2,313,204$814,073$207,032$1,292,099
Total$41,600,000$14,137,631$3,723,199$23,739,169

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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.