USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Apr 24, 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 $28,200,000 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, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$37,988$267,530
2$445,673$126,360$39,888$279,425
3$467,957$134,160$41,882$291,915
4$491,354$142,349$43,976$305,029
5$515,922$150,948$46,175$318,800
6$541,718$159,976$48,484$333,258
7$568,804$169,456$50,908$348,440
8$597,244$179,410$53,453$364,381
9$627,107$190,217$56,126$380,763
10$658,462$201,819$58,932$397,711
11$691,385$214,000$61,879$415,506
12$725,954$226,791$64,973$434,191
13$762,252$240,221$68,222$453,809
14$800,365$254,323$71,633$474,409
15$840,383$269,129$75,214$496,039
16$882,402$284,677$78,975$518,751
17$926,522$301,001$82,924$542,597
18$972,848$318,142$87,070$567,637
19$1,021,491$336,139$91,423$593,928
20$1,072,565$355,037$95,995$621,534
21$1,126,193$374,879$100,794$650,520
22$1,182,503$395,714$105,834$680,955
23$1,241,628$417,590$111,126$712,912
24$1,303,710$440,560$116,682$746,467
25$1,368,895$464,679$122,516$781,700
26$1,437,340$490,004$128,642$818,694
27$1,509,207$516,594$135,074$857,539
28$1,584,667$544,515$141,828$898,325
29$1,663,901$573,831$148,919$941,151
30$1,747,096$604,613$156,365$986,117
Total$28,200,000$9,196,066$2,523,900$16,480,033

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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.