Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Feb 22, 2025 is estimated to be $215 Million, with a cash option of 99.3 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 Sat Feb 22, 2025

Draw Date	Jackpot	Cash Option
Sat Feb 22, 2025	$215,000,000	$99,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,300,000
Federal Tax(24%)	$23,832,000
Additional Federal Tax	$12,869,330
State Tax(8.95%)	$8,887,350
Net Lumpsum Payment	$53,711,320

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,235,965	-$1,157,637 -$289,619	$1,788,709
2	$3,397,860	-$1,217,539 -$304,108	$1,876,213
3	$3,567,710	-$1,280,383 -$319,310	$1,968,017
4	$3,746,160	-$1,346,410 -$335,281	$2,064,469
5	$3,933,425	-$1,415,698 -$352,042	$2,165,685
6	$4,130,150	-$1,488,486 -$369,648	$2,272,016
7	$4,336,550	-$1,564,854 -$388,121	$2,383,575
8	$4,553,485	-$1,645,120 -$407,537	$2,500,828
9	$4,781,170	-$1,729,363 -$427,915	$2,623,892
10	$5,020,250	-$1,817,823 -$449,312	$2,753,115
11	$5,271,155	-$1,910,658 -$471,768	$2,888,729
12	$5,534,745	-$2,008,186 -$495,360	$3,031,199
13	$5,811,450	-$2,110,567 -$520,125	$3,180,758
14	$6,102,130	-$2,218,118 -$546,141	$3,337,871
15	$6,407,215	-$2,331,000 -$573,446	$3,502,769
16	$6,727,565	-$2,449,529 -$602,117	$3,675,919
17	$7,063,825	-$2,573,946 -$632,212	$3,857,667
18	$7,417,070	-$2,704,646 -$663,828	$4,048,596
19	$7,787,945	-$2,841,870 -$697,021	$4,249,054
20	$8,177,310	-$2,985,935 -$731,869	$4,459,506
21	$8,586,240	-$3,137,239 -$768,468	$4,680,533
22	$9,015,595	-$3,296,101 -$806,896	$4,912,598
23	$9,466,235	-$3,462,837 -$847,228	$5,156,170
24	$9,939,665	-$3,638,006 -$889,600	$5,412,059
25	$10,436,530	-$3,821,846 -$934,069	$5,680,615
26	$10,958,550	-$4,014,994 -$980,790	$5,962,766
27	$11,506,370	-$4,217,687 -$1,029,820	$6,258,863
28	$12,081,710	-$4,430,563 -$1,081,313	$6,569,834
29	$12,685,860	-$4,654,099 -$1,135,384	$6,896,377
30	$13,320,110	-$4,888,771 -$1,192,150	$7,239,189