USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Aug 31, 2024

For a non-Maryland resident

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $72,100,000 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, Aug 31, 2024
Jackpot:$72,100,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,085,208$359,715$97,126$628,367
2$1,139,469$379,791$101,982$657,695
3$1,196,442$400,871$107,082$688,489
4$1,256,264$423,006$112,436$720,823
5$1,319,078$446,246$118,057$754,774
6$1,385,032$470,649$123,960$790,422
7$1,454,283$496,273$130,158$827,852
8$1,526,997$523,177$136,666$867,154
9$1,603,347$551,426$143,500$908,421
10$1,683,515$581,088$150,675$951,752
11$1,767,690$612,233$158,208$997,249
12$1,856,075$644,935$166,119$1,045,021
13$1,948,879$679,273$174,425$1,095,181
14$2,046,322$715,327$183,146$1,147,850
15$2,148,639$753,184$192,303$1,203,151
16$2,256,071$792,934$201,918$1,261,218
17$2,368,874$834,671$212,014$1,322,189
18$2,487,318$878,495$222,615$1,386,207
19$2,611,684$924,511$233,746$1,453,427
20$2,742,268$972,827$245,433$1,524,008
21$2,879,381$1,023,559$257,705$1,598,118
22$3,023,350$1,076,827$270,590$1,675,933
23$3,174,518$1,132,759$284,119$1,757,639
24$3,333,244$1,191,488$298,325$1,843,430
25$3,499,906$1,253,153$313,242$1,933,511
26$3,674,901$1,317,901$328,904$2,028,096
27$3,858,646$1,385,887$345,349$2,127,410
28$4,051,578$1,457,272$362,616$2,231,690
29$4,254,157$1,532,226$380,747$2,341,184
30$4,466,865$1,610,928$399,784$2,456,153
Total$72,100,000$25,422,632$6,452,950$40,224,414

◄ Back to Jackpot Analysis

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.