USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jan 13, 2024

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 $78,400,000 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:Sat, Jan 13, 2024
Jackpot:$78,400,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,180,033$394,800$105,613$679,620
2$1,239,034$416,630$110,894$711,510
3$1,300,986$439,553$116,438$744,995
4$1,366,035$463,621$122,260$780,154
5$1,434,337$488,892$128,373$817,071
6$1,506,054$515,428$134,792$855,834
7$1,581,356$543,290$141,531$896,535
8$1,660,424$572,545$148,608$939,272
9$1,743,445$603,263$156,038$984,145
10$1,830,618$635,516$163,840$1,031,261
11$1,922,149$669,383$172,032$1,080,734
12$2,018,256$704,942$180,634$1,132,680
13$2,119,169$742,280$189,666$1,187,223
14$2,225,127$781,485$199,149$1,244,494
15$2,336,384$822,650$209,106$1,304,628
16$2,453,203$865,873$219,562$1,367,768
17$2,575,863$911,257$230,540$1,434,066
18$2,704,656$958,911$242,067$1,503,679
19$2,839,889$1,008,947$254,170$1,576,772
20$2,981,883$1,061,485$266,879$1,653,520
21$3,130,978$1,116,649$280,222$1,734,106
22$3,287,526$1,174,573$294,234$1,818,720
23$3,451,903$1,235,392$308,945$1,907,566
24$3,624,498$1,299,252$324,393$2,000,853
25$3,805,723$1,366,305$340,612$2,098,805
26$3,996,009$1,436,711$357,643$2,201,655
27$4,195,809$1,510,637$375,525$2,309,647
28$4,405,600$1,588,260$394,301$2,423,039
29$4,625,880$1,669,763$414,016$2,542,100
30$4,857,174$1,755,342$434,717$2,667,115
Total$78,400,000$27,753,635$7,016,800$43,629,567

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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.