USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Dec 15, 2001

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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 $16,000,000 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 money, as well as deductions claimed.

State:

Maryland

Drawing Date:Sat, Dec 15, 2001
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,282$70,223$25,533$189,526
2$296,693$74,217$26,554$195,922
3$308,561$78,371$27,616$202,573
4$320,903$82,691$28,721$209,491
5$333,739$87,183$29,870$216,686
6$347,089$91,856$31,064$224,168
7$360,972$96,715$32,307$231,950
8$375,411$101,769$33,599$240,043
9$390,428$107,024$34,943$248,460
10$406,045$112,490$36,341$257,213
11$422,286$118,175$37,795$266,317
12$439,178$124,087$39,306$275,784
13$456,745$130,236$40,879$285,631
14$475,015$136,630$42,514$295,871
15$494,015$143,280$44,214$306,521
16$513,776$150,196$45,983$317,597
17$534,327$157,389$47,822$329,116
18$555,700$164,870$49,735$341,095
19$577,928$172,650$51,725$353,554
20$601,045$180,741$53,794$366,511
21$625,087$189,470$55,945$379,672
22$650,091$198,721$58,183$393,186
23$676,094$208,343$60,510$407,241
24$703,138$218,349$62,931$421,858
25$731,263$228,755$65,448$437,060
26$760,514$239,578$68,066$452,870
27$790,935$250,834$70,789$469,312
28$822,572$262,539$73,620$486,412
29$855,475$274,713$76,565$504,196
30$889,694$287,374$79,628$522,692
Total$16,000,000$4,739,469$1,432,000$9,828,528

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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.