The jackpot for the Powerball draw on Mon Jan 12, 2026, is projected to be $137 Million, with an option for a cash payout of $61.9 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 Mon Jan 12, 2026 |
|---|
| Draw Date | Mon Jan 12, 2026 | | Projected Jackpot | $137,000,000 | | Cash Value | $61,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $61,900,000 | | Federal Tax(24%) | $14,856,000 | | Additional Federal Tax | $8,007,330 | | State Tax(8.95%) | $5,540,050 | | Net Lumpsum Payment | $33,496,620 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,061,987 |
$723,266
$184,548 |
$1,154,173 |
| 2 |
$2,165,148 |
$761,435
$193,781 |
$1,209,932 |
| 3 |
$2,273,378 |
$801,480
$203,467 |
$1,268,431 |
| 4 |
$2,387,088 |
$843,553
$213,644 |
$1,329,891 |
| 5 |
$2,506,415 |
$887,704
$224,324 |
$1,394,387 |
| 6 |
$2,631,770 |
$934,085
$235,543 |
$1,462,142 |
| 7 |
$2,763,290 |
$982,748
$247,314 |
$1,533,228 |
| 8 |
$2,901,523 |
$1,033,894
$259,686 |
$1,607,943 |
| 9 |
$3,046,606 |
$1,087,575
$272,671 |
$1,686,360 |
| 10 |
$3,198,950 |
$1,143,942
$286,306 |
$1,768,702 |
| 11 |
$3,358,829 |
$1,203,097
$300,615 |
$1,855,117 |
| 12 |
$3,526,791 |
$1,265,243
$315,648 |
$1,945,900 |
| 13 |
$3,703,110 |
$1,330,481
$331,428 |
$2,041,201 |
| 14 |
$3,888,334 |
$1,399,014
$348,006 |
$2,141,314 |
| 15 |
$4,082,737 |
$1,470,943
$365,405 |
$2,246,389 |
| 16 |
$4,286,867 |
$1,546,471
$383,675 |
$2,356,721 |
| 17 |
$4,501,135 |
$1,625,750
$402,852 |
$2,472,533 |
| 18 |
$4,726,226 |
$1,709,034
$422,997 |
$2,594,195 |
| 19 |
$4,962,551 |
$1,796,474
$444,148 |
$2,721,929 |
| 20 |
$5,210,658 |
$1,888,274
$466,354 |
$2,856,030 |
| 21 |
$5,471,232 |
$1,984,686
$489,675 |
$2,996,871 |
| 22 |
$5,744,821 |
$2,085,914
$514,161 |
$3,144,746 |
| 23 |
$6,031,973 |
$2,192,160
$539,862 |
$3,299,951 |
| 24 |
$6,333,647 |
$2,303,780
$566,861 |
$3,463,006 |
| 25 |
$6,650,254 |
$2,420,924
$595,198 |
$3,634,132 |
| 26 |
$6,982,890 |
$2,544,000
$624,969 |
$3,813,921 |
| 27 |
$7,331,966 |
$2,673,158
$656,211 |
$4,002,597 |
| 28 |
$7,698,578 |
$2,808,804
$689,023 |
$4,200,751 |
| 29 |
$8,083,548 |
$2,951,243
$723,478 |
$4,408,827 |
| 30 |
$8,487,698 |
$3,100,779
$759,649 |
$4,627,270 |
|
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