USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Dec 24, 2011

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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 $128,800,000 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, Dec 24, 2011
Jackpot:$128,800,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,296,517$807,899$205,538$1,283,080
2$2,388,377$841,887$213,760$1,332,730
3$2,483,913$877,235$222,310$1,384,367
4$2,583,269$913,997$231,203$1,438,069
5$2,686,600$952,230$240,451$1,493,919
6$2,794,064$991,991$250,069$1,552,004
7$2,905,826$1,033,343$260,071$1,612,411
8$3,022,059$1,076,350$270,474$1,675,235
9$3,142,942$1,121,076$281,293$1,740,572
10$3,268,659$1,167,592$292,545$1,808,523
11$3,399,406$1,215,968$304,247$1,879,191
12$3,535,382$1,266,279$316,417$1,952,686
13$3,676,797$1,318,603$329,073$2,029,121
14$3,823,869$1,373,019$342,236$2,108,614
15$3,976,824$1,429,613$355,926$2,191,286
16$4,135,897$1,488,470$370,163$2,277,265
17$4,301,333$1,549,681$384,969$2,366,683
18$4,473,386$1,613,341$400,368$2,459,677
19$4,652,322$1,679,547$416,383$2,556,392
20$4,838,414$1,748,401$433,038$2,656,975
21$5,031,951$1,820,010$450,360$2,761,582
22$5,233,229$1,894,483$468,374$2,870,373
23$5,442,558$1,971,934$487,109$2,983,515
24$5,660,261$2,052,484$506,593$3,101,183
25$5,886,671$2,136,256$526,857$3,223,558
26$6,122,138$2,223,379$547,931$3,350,828
27$6,367,023$2,313,986$569,849$3,483,188
28$6,621,704$2,408,218$592,643$3,620,843
29$6,886,572$2,506,220$616,348$3,764,005
30$7,162,035$2,608,141$641,002$3,912,892
Total$128,800,000$46,401,633$11,527,600$70,870,767

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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.