USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Nov 30, 2022

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 $65,600,000 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 money, as well as deductions claimed.

State:

Maryland

Drawing Date:Wed, Nov 30, 2022
Jackpot:$65,600,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$987,374$323,516$88,370$575,488
2$1,036,743$341,783$92,788$602,172
3$1,088,580$360,962$97,428$630,190
4$1,143,009$381,101$102,299$659,609
5$1,200,159$402,247$107,414$690,498
6$1,260,167$424,450$112,785$722,933
7$1,323,176$447,763$118,424$756,989
8$1,389,335$472,242$124,345$792,748
9$1,458,801$497,944$130,563$830,294
10$1,531,741$524,932$137,091$869,718
11$1,608,328$553,269$143,945$911,114
12$1,688,745$583,023$151,143$954,579
13$1,773,182$614,265$158,700$1,000,217
14$1,861,841$647,069$166,635$1,048,137
15$1,954,933$681,513$174,967$1,098,454
16$2,052,680$717,679$183,715$1,151,286
17$2,155,314$755,654$192,901$1,206,759
18$2,263,080$795,527$202,546$1,265,007
19$2,376,234$837,394$212,673$1,326,167
20$2,495,045$881,355$223,307$1,390,384
21$2,619,798$927,513$234,472$1,457,813
22$2,750,787$975,979$246,195$1,528,613
23$2,888,327$1,026,869$258,505$1,602,953
24$3,032,743$1,080,303$271,431$1,681,010
25$3,184,380$1,136,408$285,002$1,762,970
26$3,343,599$1,195,320$299,252$1,849,028
27$3,510,779$1,257,176$314,215$1,939,388
28$3,686,318$1,322,125$329,925$2,034,267
29$3,870,634$1,390,322$346,422$2,133,890
30$4,064,166$1,461,929$363,743$2,238,494
Total$65,600,000$23,017,632$5,871,201$36,711,169

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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.