USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Mar 2, 2005

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 $12,300,000 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, Mar 2, 2005
Jackpot:$12,300,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$219,310$47,866$19,628$151,816
2$228,083$50,673$20,413$156,996
3$237,206$53,592$21,230$162,384
4$246,694$56,718$22,079$167,897
5$256,562$60,171$22,962$173,428
6$266,824$63,763$23,881$179,180
7$277,497$67,499$24,836$185,163
8$288,597$71,384$25,829$191,384
9$300,141$75,424$26,863$197,854
10$312,147$79,626$27,937$204,584
11$324,633$83,996$29,055$211,582
12$337,618$88,541$30,217$218,860
13$351,123$93,268$31,425$226,430
14$365,168$98,183$32,683$234,302
15$379,774$103,296$33,990$242,489
16$394,965$108,613$35,349$251,003
17$410,764$114,142$36,763$259,858
18$427,194$119,893$38,234$269,068
19$444,282$125,874$39,763$278,645
20$462,054$132,093$41,354$288,606
21$480,536$138,562$43,008$298,966
22$499,757$145,290$44,728$309,739
23$519,747$152,286$46,517$320,944
24$540,537$159,563$48,378$332,596
25$562,159$167,130$50,313$344,715
26$584,645$175,001$52,326$357,319
27$608,031$183,186$54,419$370,427
28$632,352$192,158$56,596$383,599
29$657,646$201,517$58,859$397,270
30$683,952$211,250$61,214$411,488
Total$12,300,000$3,420,558$1,100,849$7,778,592

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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.