USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$84,733$553,523
2$994,072$325,994$88,969$579,108
3$1,043,776$344,385$93,418$605,973
4$1,095,964$363,695$98,089$634,181
5$1,150,763$383,970$102,993$663,799
6$1,208,301$405,259$108,143$694,899
7$1,268,716$427,613$113,550$727,553
8$1,332,152$451,084$119,228$761,840
9$1,398,759$475,729$125,189$797,842
10$1,468,697$501,606$131,448$835,643
11$1,542,132$528,777$138,021$875,335
12$1,619,239$557,306$144,922$917,011
13$1,700,201$587,262$152,168$960,771
14$1,785,211$618,716$159,776$1,006,719
15$1,874,471$651,742$167,765$1,054,964
16$1,968,195$686,420$176,153$1,105,621
17$2,066,604$722,831$184,961$1,158,812
18$2,169,935$761,064$194,209$1,214,662
19$2,278,431$801,207$203,920$1,273,304
20$2,392,353$843,358$214,116$1,334,879
21$2,511,971$887,617$224,821$1,399,532
22$2,637,569$934,088$236,062$1,467,418
23$2,769,447$982,883$247,866$1,538,699
24$2,907,920$1,034,118$260,259$1,613,543
25$3,053,316$1,087,915$273,272$1,692,129
26$3,205,982$1,144,401$286,935$1,774,645
27$3,366,281$1,203,712$301,282$1,861,287
28$3,534,595$1,265,988$316,346$1,952,261
29$3,711,324$1,331,378$332,164$2,047,783
30$3,896,891$1,400,037$348,772$2,148,082
Total$62,900,000$22,018,635$5,629,550$35,251,818

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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.