USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Sep 4, 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 $70,100,000 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, Sep 4, 2002
Jackpot:$70,100,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,249,890$420,647$111,865$717,378
2$1,299,886$439,145$116,340$744,400
3$1,351,881$458,384$120,993$772,504
4$1,405,956$478,392$125,833$801,732
5$1,462,194$499,200$130,866$832,128
6$1,520,682$520,840$136,101$863,741
7$1,581,510$543,346$141,545$896,618
8$1,644,770$566,753$147,207$930,810
9$1,710,561$591,095$153,095$966,370
10$1,778,983$616,412$159,219$1,003,353
11$1,850,142$642,740$165,588$1,041,814
12$1,924,148$670,123$172,211$1,081,814
13$2,001,114$698,600$179,100$1,123,414
14$2,081,159$728,216$186,264$1,166,678
15$2,164,405$759,018$193,714$1,211,673
16$2,250,981$791,051$201,463$1,258,468
17$2,341,020$824,365$209,521$1,307,134
18$2,434,661$859,012$217,902$1,357,747
19$2,532,048$895,045$226,618$1,410,384
20$2,633,330$932,520$235,683$1,465,127
21$2,738,663$971,493$245,110$1,522,059
22$2,848,209$1,012,025$254,915$1,581,269
23$2,962,138$1,054,179$265,111$1,642,848
24$3,080,623$1,098,018$275,716$1,706,889
25$3,203,848$1,143,612$286,744$1,773,492
26$3,332,002$1,191,029$298,214$1,842,759
27$3,465,282$1,240,342$310,143$1,914,797
28$3,603,893$1,291,628$322,548$1,989,717
29$3,748,049$1,344,966$335,450$2,067,633
30$3,897,971$1,400,437$348,868$2,148,666
Total$70,100,000$24,682,633$6,273,947$39,143,416

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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.