USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jul 16, 1997

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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 $19,800,000 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:Wed, Jul 16, 1997
Jackpot:$19,800,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$353,036$93,937$31,597$227,502
2$367,157$98,880$32,861$235,417
3$381,844$104,020$34,175$243,649
4$397,117$109,366$35,542$252,210
5$413,002$114,926$36,964$261,113
6$429,522$120,708$38,442$270,372
7$446,703$126,721$39,980$280,002
8$464,571$132,975$41,579$290,017
9$483,154$139,479$43,242$300,433
10$502,480$146,243$44,972$311,265
11$522,579$153,278$46,771$322,531
12$543,483$160,594$48,642$334,247
13$565,222$168,202$50,587$346,432
14$587,831$176,116$52,611$359,104
15$611,344$184,385$54,715$372,244
16$635,798$193,433$56,904$385,461
17$661,230$202,843$59,180$399,207
18$687,679$212,629$61,547$413,503
19$715,186$222,807$64,009$428,370
20$743,794$233,391$66,570$443,833
21$773,545$244,399$69,232$459,913
22$804,487$255,848$72,002$476,638
23$836,667$267,754$74,882$494,031
24$870,133$280,137$77,877$512,119
25$904,939$293,015$80,992$530,932
26$941,136$306,408$84,232$550,496
27$978,782$320,337$87,601$570,844
28$1,017,933$334,823$91,105$592,005
29$1,058,650$349,888$94,749$614,013
30$1,100,996$365,556$98,539$636,901
Total$19,800,000$6,113,098$1,772,101$11,914,804

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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.