USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Sep 14, 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 $152,300,000 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, Sep 14, 2024
Jackpot:$152,300,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,292,334$806,351$205,164$1,280,819
2$2,406,950$848,759$215,422$1,342,769
3$2,527,298$893,288$226,193$1,407,817
4$2,653,663$940,043$237,503$1,476,117
5$2,786,346$989,136$249,378$1,547,832
6$2,925,663$1,040,683$261,847$1,623,133
7$3,071,946$1,094,808$274,939$1,702,199
8$3,225,544$1,151,639$288,686$1,785,219
9$3,386,821$1,211,311$303,120$1,872,389
10$3,556,162$1,273,968$318,276$1,963,918
11$3,733,970$1,339,757$334,190$2,060,023
12$3,920,668$1,408,835$350,900$2,160,933
13$4,116,702$1,481,367$368,445$2,266,890
14$4,322,537$1,557,526$386,867$2,378,143
15$4,538,664$1,637,493$406,210$2,494,960
16$4,765,597$1,721,459$426,521$2,617,617
17$5,003,877$1,809,622$447,847$2,746,408
18$5,254,071$1,902,194$470,239$2,881,637
19$5,516,774$1,999,394$493,751$3,023,629
20$5,792,613$2,101,454$518,439$3,172,719
21$6,082,243$2,208,618$544,361$3,329,265
22$6,386,356$2,321,139$571,579$3,493,637
23$6,705,673$2,439,287$600,158$3,666,229
24$7,040,957$2,563,342$630,166$3,847,449
25$7,393,005$2,693,600$661,674$4,037,731
26$7,762,655$2,830,370$694,758$4,237,527
27$8,150,788$2,973,979$729,496$4,447,313
28$8,558,327$3,124,769$765,970$4,667,588
29$8,986,244$3,283,098$804,269$4,898,877
30$9,435,556$3,449,343$844,482$5,141,730
Total$152,300,000$55,096,632$13,630,850$83,572,517

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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.