USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

For a non-Maryland resident

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The tax information provided here is based on 2022 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 $632,600,000 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 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$852,178$5,183,436
2$9,997,615$3,662,072$894,787$5,440,756
3$10,497,495$3,847,028$939,526$5,710,941
4$11,022,371$4,041,232$986,502$5,994,636
5$11,573,488$4,245,146$1,035,827$6,292,516
6$12,152,163$4,459,255$1,087,619$6,605,289
7$12,759,772$4,684,071$1,142,000$6,933,702
8$13,397,760$4,920,126$1,199,100$7,278,534
9$14,067,648$5,167,985$1,259,055$7,640,609
10$14,771,030$5,428,236$1,322,007$8,020,787
11$15,509,582$5,701,500$1,388,108$8,419,974
12$16,285,061$5,988,428$1,457,513$8,839,120
13$17,099,314$6,289,701$1,530,389$9,279,224
14$17,954,280$6,606,039$1,606,908$9,741,333
15$18,851,994$6,938,193$1,687,253$10,226,548
16$19,794,594$7,286,955$1,771,616$10,736,023
17$20,784,323$7,653,154$1,860,197$11,270,972
18$21,823,539$8,037,664$1,953,207$11,832,668
19$22,914,716$8,441,400$2,050,867$12,422,449
20$24,060,452$8,865,322$2,153,410$13,041,719
21$25,263,474$9,310,441$2,261,081$13,691,953
22$26,526,648$9,777,815$2,374,135$14,374,698
23$27,852,981$10,268,558$2,492,842$15,091,581
24$29,245,629$10,783,838$2,617,484$15,844,308
25$30,707,911$11,324,882$2,748,358$16,634,671
26$32,243,307$11,892,979$2,885,776$17,464,552
27$33,855,472$12,489,480$3,030,065$18,335,928
28$35,548,245$13,115,806$3,181,568$19,250,872
29$37,325,658$13,773,448$3,340,646$20,211,563
30$39,191,941$14,463,973$3,507,679$21,220,289
Total$632,600,001$232,950,651$56,617,703$343,031,651

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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.