USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jan 4, 2012

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 $31,700,000 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, Jan 4, 2012
Jackpot:$31,700,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$565,214$168,200$50,587$346,428
2$587,823$176,113$52,610$359,100
3$611,336$184,382$54,715$372,239
4$635,789$193,430$56,903$385,456
5$661,221$202,839$59,179$399,202
6$687,669$212,625$61,546$413,498
7$715,176$222,803$64,008$428,365
8$743,783$233,388$66,569$443,827
9$773,535$244,396$69,231$459,908
10$804,476$255,844$72,001$476,632
11$836,655$267,750$74,881$494,024
12$870,121$280,133$77,876$512,113
13$904,926$293,010$80,991$530,925
14$941,123$306,403$84,231$550,489
15$978,768$320,332$87,600$570,836
16$1,017,919$334,818$91,104$591,997
17$1,058,635$349,883$94,748$614,005
18$1,100,981$365,551$98,538$636,892
19$1,145,020$381,845$102,479$660,696
20$1,190,821$398,792$106,578$685,451
21$1,238,454$416,416$110,842$711,197
22$1,287,992$434,745$115,275$737,972
23$1,339,512$453,807$119,886$765,818
24$1,393,092$473,632$124,682$794,779
25$1,448,816$494,250$129,669$824,897
26$1,506,768$515,692$134,856$856,221
27$1,567,039$537,992$140,250$888,797
28$1,629,721$561,184$145,860$922,676
29$1,694,910$585,304$151,694$957,911
30$1,762,706$610,389$157,762$994,555
Total$31,700,000$10,475,948$2,837,151$18,386,906

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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.