USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Oct 24, 2020

For a non-Maryland resident

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The tax information provided here is based on 2021 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 $105,700,000 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 prize money, as well as deductions claimed.

State:

Maryland

Drawing Date:Sat, Oct 24, 2020
Jackpot:$105,700,000
Federal Tax:37% marginal rate
State Tax: 8% (For a non-Maryland resident)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,590,937$552,719$127,275$910,943
2$1,670,484$582,151$133,639$954,694
3$1,754,008$613,055$140,321$1,000,632
4$1,841,708$645,504$147,337$1,048,867
5$1,933,793$679,576$154,703$1,099,514
6$2,030,483$715,351$162,439$1,152,693
7$2,132,007$752,915$170,561$1,208,532
8$2,238,608$792,357$179,089$1,267,162
9$2,350,538$833,771$188,043$1,328,724
10$2,468,065$877,256$197,445$1,393,363
11$2,591,468$922,916$207,317$1,461,235
12$2,721,042$970,858$217,683$1,532,501
13$2,857,094$1,021,197$228,567$1,607,329
14$2,999,948$1,074,053$239,996$1,685,899
15$3,149,946$1,129,552$251,996$1,768,398
16$3,307,443$1,187,826$264,595$1,855,021
17$3,472,815$1,249,014$277,825$1,945,976
18$3,646,456$1,313,261$291,716$2,041,479
19$3,828,779$1,380,720$306,302$2,141,756
20$4,020,218$1,451,553$321,617$2,247,048
21$4,221,229$1,525,927$337,698$2,357,604
22$4,432,290$1,604,020$354,583$2,473,687
23$4,653,905$1,686,017$372,312$2,595,575
24$4,886,600$1,772,114$390,928$2,723,558
25$5,130,930$1,862,516$410,474$2,857,939
26$5,387,476$1,957,439$430,998$2,999,040
27$5,656,850$2,057,107$452,548$3,147,195
28$5,939,693$2,161,759$475,175$3,302,759
29$6,236,677$2,271,643$498,934$3,466,100
30$6,548,511$2,387,021$523,881$3,637,609
Total$105,700,000$38,031,168$8,455,997$59,212,832

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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.