Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jul 16, 2025 is estimated to be $264 Million, with a cash option of 119.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Maryland, your state will take 8.95% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Maryland Powerball Jackpot/Cash Option for Wed Jul 16, 2025

Draw Date	Jackpot	Cash Option
Wed Jul 16, 2025	$264,000,000	$119,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,700,000
Federal Tax(24%)	$28,728,000
Additional Federal Tax	$15,521,330
State Tax(8.95%)	$10,713,150
Net Lumpsum Payment	$64,737,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,973,464	-$1,430,512 -$355,625	$2,187,327
2	$4,172,256	-$1,504,065 -$373,417	$2,294,774
3	$4,380,816	-$1,581,232 -$392,083	$2,407,501
4	$4,599,936	-$1,662,307 -$411,694	$2,525,935
5	$4,829,880	-$1,747,386 -$432,274	$2,650,220
6	$5,071,440	-$1,836,763 -$453,894	$2,780,783
7	$5,324,880	-$1,930,536 -$476,577	$2,917,767
8	$5,591,256	-$2,029,095 -$500,417	$3,061,744
9	$5,870,832	-$2,132,538 -$525,439	$3,212,855
10	$6,164,400	-$2,241,158 -$551,714	$3,371,528
11	$6,472,488	-$2,355,151 -$579,288	$3,538,049
12	$6,796,152	-$2,474,907 -$608,256	$3,712,989
13	$7,135,920	-$2,600,621 -$638,665	$3,896,634
14	$7,492,848	-$2,732,684 -$670,610	$4,089,554
15	$7,867,464	-$2,871,292 -$704,138	$4,292,034
16	$8,260,824	-$3,016,835 -$739,344	$4,504,645
17	$8,673,720	-$3,169,607 -$776,298	$4,727,815
18	$9,107,472	-$3,330,095 -$815,119	$4,962,258
19	$9,562,872	-$3,498,593 -$855,877	$5,208,402
20	$10,040,976	-$3,675,492 -$898,667	$5,466,817
21	$10,543,104	-$3,861,279 -$943,608	$5,738,217
22	$11,070,312	-$4,056,346 -$990,793	$6,023,173
23	$11,623,656	-$4,261,083 -$1,040,317	$6,322,256
24	$12,204,984	-$4,476,174 -$1,092,346	$6,636,464
25	$12,815,088	-$4,701,913 -$1,146,950	$6,966,225
26	$13,456,080	-$4,939,080 -$1,204,319	$7,312,681
27	$14,128,752	-$5,187,969 -$1,264,523	$7,676,260
28	$14,835,216	-$5,449,360 -$1,327,752	$8,058,104
29	$15,577,056	-$5,723,841 -$1,394,147	$8,459,068
30	$16,355,856	-$6,011,997 -$1,463,849	$8,880,010