Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 Sat Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(8.95%)	$21,721,650
Net Lumpsum Payment	$131,219,020

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$693,738	$4,229,229
2	$8,139,060	-$2,971,783 -$728,446	$4,438,831
3	$8,545,910	-$3,122,317 -$764,859	$4,658,734
4	$8,973,360	-$3,280,474 -$803,116	$4,889,770
5	$9,421,925	-$3,446,443 -$843,262	$5,132,220
6	$9,893,150	-$3,620,796 -$885,437	$5,386,917
7	$10,387,550	-$3,803,724 -$929,686	$5,654,140
8	$10,907,185	-$3,995,989 -$976,193	$5,935,003
9	$11,452,570	-$4,197,781 -$1,025,005	$6,229,784
10	$12,025,250	-$4,409,673 -$1,076,260	$6,539,317
11	$12,626,255	-$4,632,045 -$1,130,050	$6,864,160
12	$13,257,645	-$4,865,659 -$1,186,559	$7,205,427
13	$13,920,450	-$5,110,897 -$1,245,880	$7,563,673
14	$14,616,730	-$5,368,520 -$1,308,197	$7,940,013
15	$15,347,515	-$5,638,911 -$1,373,603	$8,335,001
16	$16,114,865	-$5,922,830 -$1,442,280	$8,749,755
17	$16,920,325	-$6,220,851 -$1,514,369	$9,185,105
18	$17,766,470	-$6,533,924 -$1,590,099	$9,642,447
19	$18,654,845	-$6,862,623 -$1,669,609	$10,122,613
20	$19,587,510	-$7,207,709 -$1,753,082	$10,626,719
21	$20,567,040	-$7,570,135 -$1,840,750	$11,156,155
22	$21,595,495	-$7,950,664 -$1,932,797	$11,712,034
23	$22,674,935	-$8,350,056 -$2,029,407	$12,295,472
24	$23,808,965	-$8,769,647 -$2,130,902	$12,908,416
25	$24,999,130	-$9,210,008 -$2,237,422	$13,551,700
26	$26,249,550	-$9,672,664 -$2,349,335	$14,227,551
27	$27,561,770	-$10,158,185 -$2,466,778	$14,936,807
28	$28,939,910	-$10,668,097 -$2,590,122	$15,681,691
29	$30,387,060	-$11,203,543 -$2,719,642	$16,463,875
30	$31,906,310	-$11,765,665 -$2,855,615	$17,285,030