Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Aug 5, 2026 is estimated to be $786 Million, with a cash option of 341.6 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 Aug 5, 2026

Draw Date	Jackpot	Cash Option
Wed Aug 5, 2026	$786,000,000	$341,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$341,600,000
Federal Tax(24%)	$81,984,000
Additional Federal Tax	$44,368,330
State Tax(8.95%)	$30,573,200
Net Lumpsum Payment	$184,674,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,830,086	-$4,337,462 -$1,058,793	$6,433,831
2	$12,421,944	-$4,556,450 -$1,111,764	$6,753,730
3	$13,042,884	-$4,786,197 -$1,167,338	$7,089,349
4	$13,695,264	-$5,027,578 -$1,225,726	$7,441,960
5	$14,379,870	-$5,280,882 -$1,286,998	$7,811,990
6	$15,099,060	-$5,546,983 -$1,351,366	$8,200,711
7	$15,853,620	-$5,826,170 -$1,418,899	$8,608,551
8	$16,646,694	-$6,119,607 -$1,489,879	$9,037,208
9	$17,479,068	-$6,427,586 -$1,564,377	$9,487,105
10	$18,353,100	-$6,750,977 -$1,642,602	$9,959,521
11	$19,270,362	-$7,090,364 -$1,724,697	$10,455,301
12	$20,233,998	-$7,446,910 -$1,810,943	$10,976,145
13	$21,245,580	-$7,821,195 -$1,901,479	$11,522,906
14	$22,308,252	-$8,214,384 -$1,996,589	$12,097,279
15	$23,423,586	-$8,627,057 -$2,096,411	$12,700,118
16	$24,594,726	-$9,060,379 -$2,201,228	$13,333,119
17	$25,824,030	-$9,515,221 -$2,311,251	$13,997,558
18	$27,115,428	-$9,993,039 -$2,426,831	$14,695,558
19	$28,471,278	-$10,494,703 -$2,548,179	$15,428,396
20	$29,894,724	-$11,021,378 -$2,675,578	$16,197,768
21	$31,389,696	-$11,574,518 -$2,809,378	$17,005,800
22	$32,959,338	-$12,155,285 -$2,949,861	$17,854,192
23	$34,606,794	-$12,764,844 -$3,097,308	$18,744,642
24	$36,337,566	-$13,405,230 -$3,252,212	$19,680,124
25	$38,154,012	-$14,077,315 -$3,414,784	$20,661,913
26	$40,062,420	-$14,783,426 -$3,585,587	$21,693,407
27	$42,065,148	-$15,524,435 -$3,764,831	$22,775,882
28	$44,168,484	-$16,302,669 -$3,953,079	$23,912,736
29	$46,377,144	-$17,119,874 -$4,150,754	$25,106,516
30	$48,695,844	-$17,977,793 -$4,358,278	$26,359,773