USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jun 24, 2015

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 $40,000,000 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:Wed, Jun 24, 2015
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$713,204$222,073$63,832$427,299
2$741,732$232,629$66,385$442,718
3$771,401$243,606$69,040$458,755
4$802,257$255,023$71,802$475,432
5$834,348$266,896$74,674$492,777
6$867,722$279,245$77,661$510,816
7$902,431$292,087$80,768$529,576
8$938,528$305,443$83,998$549,087
9$976,069$319,333$87,358$569,377
10$1,015,112$333,779$90,852$590,480
11$1,055,716$348,803$94,487$612,427
12$1,097,945$364,427$98,266$635,251
13$1,141,863$380,677$102,197$658,989
14$1,187,537$397,576$106,285$683,676
15$1,235,039$415,152$110,536$709,351
16$1,284,440$433,431$114,957$736,052
17$1,335,818$452,440$119,556$763,822
18$1,389,250$472,210$124,338$792,702
19$1,444,820$492,771$129,311$822,738
20$1,502,613$514,155$134,484$853,975
21$1,562,718$536,393$139,863$886,461
22$1,625,226$559,522$145,458$920,247
23$1,690,235$583,575$151,276$955,385
24$1,757,845$608,590$157,327$991,927
25$1,828,159$634,606$163,620$1,029,932
26$1,901,285$661,663$170,165$1,069,457
27$1,977,336$689,802$176,972$1,110,563
28$2,056,430$719,067$184,050$1,153,313
29$2,138,687$749,502$191,412$1,197,773
30$2,224,235$781,155$199,069$1,244,011
Total$40,000,000$13,545,631$3,579,999$22,874,369

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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.