The jackpot for the Powerball draw on Sat Feb 15, 2025, is projected to be $172 Million, with an option for a cash payout of $79.7 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Maryland residents, the state will deduct 8.95% from your lottery earnings.
Maryland Powerball Jackpot/Cash Option for Sat Feb 15, 2025 |
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Draw Date | Sat Feb 15, 2025 | Projected Jackpot | $172,000,000 | Cash Value | $79,700,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $79,700,000 | Federal Tax(24%) | $19,128,000 | Additional Federal Tax | $10,321,330 | State Tax(8.95%) | $7,133,150 | Net Lumpsum Payment | $43,117,520 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,588,772 |
$918,176 $231,695 |
$1,438,901 |
2 |
$2,718,288 |
$966,097 $243,287 |
$1,508,904 |
3 |
$2,854,168 |
$1,016,373 $255,448 |
$1,582,347 |
4 |
$2,996,928 |
$1,069,194 $268,225 |
$1,659,509 |
5 |
$3,146,740 |
$1,124,624 $281,633 |
$1,740,483 |
6 |
$3,304,120 |
$1,182,855 $295,719 |
$1,825,546 |
7 |
$3,469,240 |
$1,243,949 $310,497 |
$1,914,794 |
8 |
$3,642,788 |
$1,308,162 $326,030 |
$2,008,596 |
9 |
$3,824,936 |
$1,375,557 $342,332 |
$2,107,047 |
10 |
$4,016,200 |
$1,446,324 $359,450 |
$2,210,426 |
11 |
$4,216,924 |
$1,520,592 $377,415 |
$2,318,917 |
12 |
$4,427,796 |
$1,598,615 $396,288 |
$2,432,893 |
13 |
$4,649,160 |
$1,680,520 $416,100 |
$2,552,540 |
14 |
$4,881,704 |
$1,766,561 $436,913 |
$2,678,230 |
15 |
$5,125,772 |
$1,856,866 $458,757 |
$2,810,149 |
16 |
$5,382,052 |
$1,951,690 $481,694 |
$2,948,668 |
17 |
$5,651,060 |
$2,051,223 $505,770 |
$3,094,067 |
18 |
$5,933,656 |
$2,155,783 $531,062 |
$3,246,811 |
19 |
$6,230,356 |
$2,265,562 $557,617 |
$3,407,177 |
20 |
$6,541,848 |
$2,380,814 $585,495 |
$3,575,539 |
21 |
$6,868,992 |
$2,501,857 $614,775 |
$3,752,360 |
22 |
$7,212,476 |
$2,628,947 $645,517 |
$3,938,012 |
23 |
$7,572,988 |
$2,762,336 $677,782 |
$4,132,870 |
24 |
$7,951,732 |
$2,902,471 $711,680 |
$4,337,581 |
25 |
$8,349,224 |
$3,049,543 $747,256 |
$4,552,425 |
26 |
$8,766,840 |
$3,204,061 $784,632 |
$4,778,147 |
27 |
$9,205,096 |
$3,366,216 $823,856 |
$5,015,024 |
28 |
$9,665,368 |
$3,536,517 $865,050 |
$5,263,801 |
29 |
$10,148,688 |
$3,715,345 $908,308 |
$5,525,035 |
30 |
$10,656,088 |
$3,903,083 $953,720 |
$5,799,285 |
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