USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Dec 5, 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 $89,200,000 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, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$120,162$767,481
2$1,409,717$479,783$126,170$803,765
3$1,480,203$505,863$132,478$841,862
4$1,554,213$533,247$139,102$881,865
5$1,631,924$562,000$146,057$923,867
6$1,713,520$592,190$153,360$967,970
7$1,799,196$623,890$161,028$1,014,278
8$1,889,156$657,176$169,079$1,062,901
9$1,983,614$692,125$177,533$1,113,956
10$2,082,795$728,822$186,410$1,167,563
11$2,186,934$767,353$195,731$1,223,850
12$2,296,281$807,812$205,517$1,282,952
13$2,411,095$850,293$215,793$1,345,009
14$2,531,650$894,898$226,583$1,410,169
15$2,658,232$941,734$237,912$1,478,587
16$2,791,144$990,911$249,807$1,550,426
17$2,930,701$1,042,547$262,298$1,625,856
18$3,077,236$1,096,765$275,413$1,705,058
19$3,231,098$1,153,694$289,183$1,788,221
20$3,392,653$1,213,469$303,642$1,875,541
21$3,562,286$1,276,233$318,825$1,967,228
22$3,740,400$1,342,136$334,766$2,063,498
23$3,927,420$1,411,333$351,504$2,164,583
24$4,123,791$1,483,990$369,079$2,270,721
25$4,329,980$1,560,281$387,533$2,382,167
26$4,546,480$1,640,385$406,910$2,499,184
27$4,773,804$1,724,495$427,255$2,622,053
28$5,012,494$1,812,810$448,618$2,751,065
29$5,263,118$1,905,542$471,049$2,886,528
30$5,526,274$2,002,909$494,602$3,028,764
Total$89,200,000$31,749,631$7,983,399$49,466,968

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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.