Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Oct 8, 2025 is estimated to be $223 Million, with a cash option of 104.4 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 Oct 8, 2025

Draw Date	Jackpot	Cash Option
Wed Oct 8, 2025	$223,000,000	$104,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$104,400,000
Federal Tax(24%)	$25,056,000
Additional Federal Tax	$13,532,330
State Tax(8.95%)	$9,343,800
Net Lumpsum Payment	$56,467,870

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,356,373	-$1,202,188 -$300,395	$1,853,790
2	$3,524,292	-$1,264,318 -$315,424	$1,944,550
3	$3,700,462	-$1,329,501 -$331,191	$2,039,770
4	$3,885,552	-$1,397,985 -$347,757	$2,139,810
5	$4,079,785	-$1,469,851 -$365,141	$2,244,793
6	$4,283,830	-$1,545,347 -$383,403	$2,355,080
7	$4,497,910	-$1,624,557 -$402,563	$2,470,790
8	$4,722,917	-$1,707,810 -$422,701	$2,592,406
9	$4,959,074	-$1,795,188 -$443,837	$2,720,049
10	$5,207,050	-$1,886,939 -$466,031	$2,854,080
11	$5,467,291	-$1,983,228 -$489,323	$2,994,740
12	$5,740,689	-$2,084,385 -$513,792	$3,142,512
13	$6,027,690	-$2,190,576 -$539,478	$3,297,636
14	$6,329,186	-$2,302,129 -$566,462	$3,460,595
15	$6,645,623	-$2,419,211 -$594,783	$3,631,629
16	$6,977,893	-$2,542,151 -$624,521	$3,811,221
17	$7,326,665	-$2,671,196 -$655,737	$3,999,732
18	$7,693,054	-$2,806,760 -$688,528	$4,197,766
19	$8,077,729	-$2,949,090 -$722,957	$4,405,682
20	$8,481,582	-$3,098,516 -$759,102	$4,623,964
21	$8,905,728	-$3,255,450 -$797,063	$4,853,215
22	$9,351,059	-$3,420,222 -$836,920	$5,093,917
23	$9,818,467	-$3,593,163 -$878,753	$5,346,551
24	$10,309,513	-$3,774,850 -$922,701	$5,611,962
25	$10,824,866	-$3,965,531 -$968,826	$5,890,509
26	$11,366,310	-$4,165,865 -$1,017,285	$6,183,160
27	$11,934,514	-$4,376,101 -$1,068,139	$6,490,274
28	$12,531,262	-$4,596,897 -$1,121,548	$6,812,817
29	$13,157,892	-$4,828,750 -$1,177,631	$7,151,511
30	$13,815,742	-$5,072,155 -$1,236,509	$7,507,078