USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Jun 24, 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 $84,000,000 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, Jun 24, 2024
Jackpot:$84,000,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,264,321$425,986$113,157$725,178
2$1,327,537$449,376$118,815$759,346
3$1,393,913$473,936$124,755$795,222
4$1,463,609$499,723$130,993$832,893
5$1,536,789$526,800$137,543$872,447
6$1,613,629$555,230$144,420$913,979
7$1,694,310$585,083$151,641$957,587
8$1,779,026$616,427$159,223$1,003,376
9$1,867,977$649,339$167,184$1,051,454
10$1,961,376$683,897$175,543$1,101,936
11$2,059,445$720,182$184,320$1,154,942
12$2,162,417$758,282$193,536$1,210,599
13$2,270,538$798,287$203,213$1,269,038
14$2,384,065$840,292$213,374$1,330,399
15$2,503,268$884,397$224,043$1,394,829
16$2,628,432$930,707$235,245$1,462,480
17$2,759,853$979,333$247,007$1,533,513
18$2,897,846$1,030,391$259,357$1,608,098
19$3,042,738$1,084,001$272,325$1,686,412
20$3,194,875$1,140,292$285,941$1,768,642
21$3,354,619$1,199,397$300,238$1,854,984
22$3,522,350$1,261,457$315,250$1,945,642
23$3,698,467$1,326,621$331,013$2,040,834
24$3,883,391$1,395,042$347,563$2,140,785
25$4,077,560$1,466,885$364,942$2,245,733
26$4,281,438$1,542,320$383,189$2,355,930
27$4,495,510$1,621,526$402,348$2,471,635
28$4,720,286$1,704,693$422,466$2,593,127
29$4,956,300$1,792,019$443,589$2,720,692
30$5,204,115$1,883,710$465,768$2,854,636
Total$84,000,000$29,825,631$7,518,001$46,656,368

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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.