USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jan 13, 2021

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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 $556,700,000 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:Wed, Jan 13, 2021
Jackpot:$556,700,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,379,134$3,064,352$749,932$4,564,850
2$8,798,091$3,219,366$787,429$4,791,296
3$9,237,995$3,382,130$826,801$5,029,064
4$9,699,895$3,553,033$868,141$5,278,721
5$10,184,889$3,732,481$911,548$5,540,860
6$10,694,134$3,920,902$957,125$5,816,107
7$11,228,841$4,118,743$1,004,981$6,105,116
8$11,790,283$4,326,477$1,055,230$6,408,576
9$12,379,797$4,544,597$1,107,992$6,727,208
10$12,998,787$4,773,623$1,163,391$7,061,772
11$13,648,726$5,014,101$1,221,561$7,413,064
12$14,331,163$5,266,602$1,282,639$7,781,921
13$15,047,721$5,531,729$1,346,771$8,169,221
14$15,800,107$5,810,112$1,414,110$8,575,886
15$16,590,112$6,102,414$1,484,815$9,002,883
16$17,419,618$6,409,331$1,559,056$9,451,231
17$18,290,598$6,731,594$1,637,009$9,921,996
18$19,205,128$7,069,970$1,718,859$10,416,300
19$20,165,385$7,425,265$1,804,802$10,935,318
20$21,173,654$7,798,324$1,895,042$11,480,288
21$22,232,337$8,190,037$1,989,794$12,052,506
22$23,343,954$8,601,335$2,089,284$12,653,335
23$24,511,151$9,033,198$2,193,748$13,284,205
24$25,736,709$9,486,654$2,303,435$13,946,619
25$27,023,544$9,962,784$2,418,607$14,642,153
26$28,374,722$10,462,719$2,539,538$15,372,465
27$29,793,458$10,987,652$2,666,514$16,139,292
28$31,283,130$11,538,830$2,799,840$16,944,460
29$32,847,287$12,117,568$2,939,832$17,789,886
30$34,489,652$12,725,243$3,086,824$18,677,584
Total$556,700,001$204,901,166$49,824,650$301,974,183

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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.