USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jul 17, 2002

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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 $35,000,000 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:Wed, Jul 17, 2002
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$624,053$189,088$55,853$379,113
2$649,016$198,324$58,087$392,605
3$674,976$207,929$60,410$406,637
4$701,975$217,919$62,827$421,230
5$730,054$228,308$65,340$436,407
6$759,256$239,113$67,953$452,190
7$789,627$250,350$70,672$468,605
8$821,212$262,036$73,498$485,677
9$854,060$274,190$76,438$503,432
10$888,223$286,830$79,496$521,897
11$923,752$299,976$82,676$541,100
12$960,702$313,647$85,983$561,071
13$999,130$327,866$89,422$581,842
14$1,039,095$342,653$92,999$603,443
15$1,080,659$358,031$96,719$625,908
16$1,123,885$374,025$100,588$649,272
17$1,168,840$390,659$104,611$673,571
18$1,215,594$407,958$108,796$698,841
19$1,264,218$425,948$113,147$725,122
20$1,314,787$444,659$117,673$752,454
21$1,367,378$464,118$122,380$780,880
22$1,422,073$484,355$127,276$810,443
23$1,478,956$505,401$132,367$841,188
24$1,538,114$527,290$137,661$873,163
25$1,599,639$550,054$143,168$906,417
26$1,663,624$573,729$148,894$941,001
27$1,730,169$598,350$154,850$976,969
28$1,799,376$623,957$161,044$1,014,375
29$1,871,351$650,588$167,486$1,053,278
30$1,946,205$678,284$174,185$1,093,736
Total$35,000,000$11,695,635$3,132,499$20,171,867

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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.