USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Oct 25, 2023

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 $103,400,000 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, Oct 25, 2023
Jackpot:$103,400,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,556,318$534,026$139,290$883,002
2$1,634,134$562,817$146,255$925,062
3$1,715,841$593,049$153,568$969,224
4$1,801,633$624,792$161,246$1,015,595
5$1,891,715$658,122$169,308$1,064,284
6$1,986,300$693,119$177,774$1,115,408
7$2,085,616$729,865$186,663$1,169,087
8$2,189,896$768,449$195,996$1,225,451
9$2,299,391$808,962$205,796$1,284,633
10$2,414,361$851,501$216,085$1,346,774
11$2,535,079$896,167$226,890$1,412,022
12$2,661,833$943,066$238,234$1,480,533
13$2,794,924$992,310$250,146$1,552,469
14$2,934,670$1,044,016$262,653$1,628,002
15$3,081,404$1,098,307$275,786$1,707,311
16$3,235,474$1,155,313$289,575$1,790,586
17$3,397,248$1,215,169$304,054$1,878,025
18$3,567,110$1,278,019$319,256$1,969,835
19$3,745,466$1,344,010$335,219$2,066,236
20$3,932,739$1,413,301$351,980$2,167,458
21$4,129,376$1,486,057$369,579$2,273,740
22$4,335,845$1,562,450$388,058$2,385,336
23$4,552,637$1,642,663$407,461$2,502,513
24$4,780,269$1,726,887$427,834$2,625,548
25$5,019,282$1,815,322$449,226$2,754,734
26$5,270,247$1,908,179$471,687$2,890,380
27$5,533,759$2,005,679$495,271$3,032,809
28$5,810,447$2,108,053$520,035$3,182,359
29$6,100,969$2,215,546$546,037$3,339,386
30$6,406,018$2,328,414$573,339$3,504,265
Total$103,400,000$37,003,630$9,254,301$57,142,067

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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.