USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for May 18, 2002

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 $10,000,000 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, May 18, 2002
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$178,301$35,835$15,958$126,508
2$185,433$37,546$16,596$131,290
3$192,850$39,399$17,260$136,192
4$200,564$41,867$17,951$140,747
5$208,587$44,434$18,669$145,484
6$216,930$47,104$19,415$150,411
7$225,608$49,881$20,192$155,535
8$234,632$52,769$21,000$160,864
9$244,017$55,781$21,840$166,397
10$253,778$59,197$22,713$171,868
11$263,929$62,750$23,622$177,557
12$274,486$66,445$24,567$183,475
13$285,466$70,288$25,549$189,629
14$296,884$74,284$26,571$196,029
15$308,760$78,441$27,634$202,685
16$321,110$82,763$28,739$209,607
17$333,954$87,259$29,889$216,807
18$347,313$91,934$31,084$224,294
19$361,205$96,797$32,328$232,081
20$375,653$101,853$33,621$240,179
21$390,679$107,113$34,966$248,601
22$406,307$112,582$36,364$257,360
23$422,559$118,270$37,819$266,469
24$439,461$124,186$39,332$275,943
25$457,040$130,339$40,905$285,796
26$475,321$136,737$42,541$296,043
27$494,334$143,392$44,243$306,700
28$514,107$150,312$46,013$317,782
29$534,672$157,510$47,853$329,309
30$556,059$164,995$49,767$341,296
Total$10,000,000$2,622,063$895,001$6,482,938

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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.