USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Mar 27, 2023

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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 $122,200,000 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, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$638,723$164,616$1,035,946
2$1,931,250$672,750$172,847$1,085,653
3$2,027,812$708,478$181,489$1,137,845
4$2,129,203$745,993$190,564$1,192,646
5$2,235,663$785,383$200,092$1,250,188
6$2,347,446$826,743$210,096$1,310,607
7$2,464,818$870,171$220,601$1,374,047
8$2,588,059$915,770$231,631$1,440,658
9$2,717,462$963,649$243,213$1,510,601
10$2,853,335$1,013,922$255,374$1,584,040
11$2,996,002$1,066,709$268,142$1,661,151
12$3,145,802$1,122,135$281,549$1,742,118
13$3,303,092$1,180,332$295,627$1,827,134
14$3,468,247$1,241,439$310,408$1,916,400
15$3,641,659$1,305,602$325,929$2,010,129
16$3,823,742$1,372,972$342,225$2,108,545
17$4,014,929$1,443,712$359,336$2,211,882
18$4,215,676$1,517,988$377,303$2,320,385
19$4,426,460$1,595,978$396,168$2,434,314
20$4,647,783$1,677,867$415,977$2,553,939
21$4,880,172$1,763,851$436,775$2,679,545
22$5,124,180$1,854,134$458,614$2,811,432
23$5,380,389$1,948,932$481,545$2,949,913
24$5,649,409$2,048,469$505,622$3,095,318
25$5,931,879$2,152,983$530,903$3,247,993
26$6,228,473$2,262,723$557,448$3,408,302
27$6,539,897$2,377,950$585,321$3,576,626
28$6,866,892$2,498,938$614,587$3,753,367
29$7,210,236$2,625,975$645,316$3,938,945
30$7,570,748$2,759,365$677,582$4,133,802
Total$122,200,000$43,959,636$10,936,900$67,303,471

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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.