USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Sep 20, 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 $19,200,000 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, Sep 20, 1997
Jackpot:$19,200,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$342,338$90,193$30,639$221,506
2$356,031$94,986$31,865$229,181
3$370,273$99,970$33,139$237,163
4$385,084$105,154$34,465$245,465
5$400,487$110,545$35,844$254,098
6$416,506$116,152$37,277$263,077
7$433,167$121,983$38,768$272,415
8$450,493$128,047$40,319$282,127
9$468,513$134,354$41,932$292,227
10$487,254$140,914$43,609$302,731
11$506,744$147,735$45,354$313,655
12$527,013$154,829$47,168$325,016
13$548,094$162,208$49,054$336,832
14$570,018$169,881$51,017$349,120
15$592,818$177,861$53,057$361,900
16$616,531$186,304$55,180$375,047
17$641,192$195,429$57,387$388,377
18$666,840$204,919$59,682$402,239
19$693,514$214,788$62,069$416,656
20$721,254$225,052$64,552$431,650
21$750,105$235,726$67,134$447,244
22$780,109$246,828$69,820$463,461
23$811,313$258,374$72,613$480,327
24$843,766$270,381$75,517$497,868
25$877,516$282,869$78,538$516,110
26$912,617$295,856$81,679$535,082
27$949,121$309,363$84,946$554,812
28$987,086$323,410$88,344$575,332
29$1,026,570$338,019$91,878$596,673
30$1,067,633$353,212$95,553$618,868
Total$19,200,000$5,895,342$1,718,399$11,586,259

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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.