USA Mega

Maryland Powerball Jackpot Annuity Payout Schedule for Sep 21, 2024

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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 $196,800,000 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 21, 2024
Jackpot:$196,800,000
Federal Tax:37% marginal rate
State Tax: 8.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,962,122$1,054,173$265,110$1,642,839
2$3,110,229$1,108,972$278,365$1,722,891
3$3,265,740$1,166,512$292,284$1,806,945
4$3,429,027$1,226,928$306,898$1,895,201
5$3,600,478$1,290,365$322,243$1,987,871
6$3,780,502$1,356,974$338,355$2,085,174
7$3,969,527$1,426,913$355,273$2,187,342
8$4,168,004$1,500,349$373,036$2,294,618
9$4,376,404$1,577,457$391,688$2,407,259
10$4,595,224$1,658,421$411,273$2,525,531
11$4,824,985$1,743,432$431,836$2,649,717
12$5,066,235$1,832,695$453,428$2,780,112
13$5,319,546$1,926,420$476,099$2,917,027
14$5,585,524$2,024,832$499,904$3,060,788
15$5,864,800$2,128,164$524,900$3,211,737
16$6,158,040$2,236,663$551,145$3,370,233
17$6,465,942$2,350,586$578,702$3,536,654
18$6,789,239$2,470,206$607,637$3,711,396
19$7,128,701$2,595,807$638,019$3,894,875
20$7,485,136$2,727,688$669,920$4,087,528
21$7,859,393$2,866,163$703,416$4,289,814
22$8,252,362$3,011,562$738,586$4,502,214
23$8,664,980$3,164,231$775,516$4,725,234
24$9,098,229$3,324,533$814,292$4,959,405
25$9,553,141$3,492,850$855,006$5,205,285
26$10,030,798$3,669,583$897,756$5,463,459
27$10,532,338$3,855,153$942,644$5,734,541
28$11,058,955$4,050,001$989,776$6,019,177
29$11,611,902$4,254,592$1,039,265$6,318,045
30$12,192,498$4,469,412$1,091,229$6,631,857
Total$196,800,000$71,561,637$17,613,601$107,624,769

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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.