USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Sep 24, 2011

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

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$157,591$47,874$329,438
2$556,299$165,079$49,789$341,431
3$578,551$172,868$51,780$353,903
4$601,693$180,967$53,852$366,874
5$625,761$189,719$56,006$380,036
6$650,791$198,981$58,246$393,565
7$676,823$208,612$60,576$407,635
8$703,896$218,629$62,999$422,268
9$732,052$229,047$65,519$437,486
10$761,334$239,881$68,139$453,313
11$791,787$251,149$70,865$469,773
12$823,459$262,867$73,700$486,892
13$856,397$275,055$76,648$504,695
14$890,653$287,729$79,713$523,210
15$926,279$300,911$82,902$542,466
16$963,330$314,620$86,218$562,492
17$1,001,863$328,877$89,667$583,319
18$1,041,938$343,705$93,253$604,980
19$1,083,615$359,125$96,984$627,506
20$1,126,960$375,163$100,863$650,934
21$1,172,038$391,842$104,897$675,299
22$1,218,920$409,188$109,093$700,638
23$1,267,677$427,228$113,457$726,991
24$1,318,384$445,990$117,995$754,399
25$1,371,119$465,502$122,715$782,902
26$1,425,964$485,794$127,624$812,546
27$1,483,002$506,899$132,729$843,375
28$1,542,322$528,847$138,038$875,438
29$1,604,015$551,673$143,559$908,783
30$1,668,176$575,413$149,302$943,461
Total$30,000,000$9,848,951$2,685,002$17,466,048

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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.