USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Sep 22, 2001

For a non-Maryland resident

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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 $42,900,000 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 22, 2001
Jackpot:$42,900,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$764,911$241,205$68,460$455,247
2$795,508$252,526$71,198$471,784
3$827,328$264,299$74,046$488,983
4$860,421$276,544$77,008$506,870
5$894,838$289,278$80,088$525,472
6$930,631$302,521$83,292$544,819
7$967,857$316,295$86,623$564,939
8$1,006,571$330,619$90,088$585,864
9$1,046,834$345,516$93,692$607,626
10$1,088,707$361,009$97,439$630,259
11$1,132,256$377,122$101,337$653,796
12$1,177,546$393,880$105,390$678,276
13$1,224,648$411,307$109,606$703,734
14$1,273,633$429,432$113,990$730,211
15$1,324,579$448,282$118,550$757,747
16$1,377,562$467,886$123,292$786,384
17$1,432,664$488,274$128,223$816,167
18$1,489,971$509,477$133,352$847,142
19$1,549,570$531,529$138,687$879,355
20$1,611,553$554,462$144,234$912,856
21$1,676,015$578,313$150,003$947,698
22$1,743,055$603,118$156,003$983,934
23$1,812,778$628,915$162,244$1,021,619
24$1,885,289$655,745$168,733$1,060,811
25$1,960,700$683,647$175,483$1,101,571
26$2,039,128$712,665$182,502$1,143,961
27$2,120,693$742,844$189,802$1,188,047
28$2,205,521$774,231$197,394$1,233,896
29$2,293,742$806,872$205,290$1,281,580
30$2,385,492$840,820$213,501$1,331,170
Total$42,900,000$14,618,633$3,839,550$24,441,818

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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.