The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Wed Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(8.95%) | $13,246,000 | | Net Lumpsum Payment | $80,033,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$440,490 |
$2,699,836 |
| 2 |
$5,167,908 |
$1,872,456
$462,528 |
$2,832,924 |
| 3 |
$5,426,238 |
$1,968,038
$485,648 |
$2,972,552 |
| 4 |
$5,697,648 |
$2,068,460
$509,939 |
$3,119,249 |
| 5 |
$5,982,465 |
$2,173,842
$535,431 |
$3,273,192 |
| 6 |
$6,281,670 |
$2,284,548
$562,209 |
$3,434,913 |
| 7 |
$6,595,590 |
$2,400,699
$590,305 |
$3,604,586 |
| 8 |
$6,925,533 |
$2,522,778
$619,835 |
$3,782,920 |
| 9 |
$7,271,826 |
$2,650,906
$650,828 |
$3,970,092 |
| 10 |
$7,635,450 |
$2,785,447
$683,373 |
$4,166,630 |
| 11 |
$8,017,059 |
$2,926,642
$717,527 |
$4,372,890 |
| 12 |
$8,417,961 |
$3,074,976
$753,408 |
$4,589,577 |
| 13 |
$8,838,810 |
$3,230,690
$791,073 |
$4,817,047 |
| 14 |
$9,280,914 |
$3,394,269
$830,642 |
$5,056,003 |
| 15 |
$9,744,927 |
$3,565,953
$872,171 |
$5,306,803 |
| 16 |
$10,232,157 |
$3,746,228
$915,778 |
$5,570,151 |
| 17 |
$10,743,585 |
$3,935,457
$961,551 |
$5,846,577 |
| 18 |
$11,280,846 |
$4,134,243
$1,009,636 |
$6,136,967 |
| 19 |
$11,844,921 |
$4,342,951
$1,060,120 |
$6,441,850 |
| 20 |
$12,437,118 |
$4,562,064
$1,113,122 |
$6,761,932 |
| 21 |
$13,059,072 |
$4,792,187
$1,168,787 |
$7,098,098 |
| 22 |
$13,712,091 |
$5,033,804
$1,227,232 |
$7,451,055 |
| 23 |
$14,397,483 |
$5,287,399
$1,288,575 |
$7,821,509 |
| 24 |
$15,117,537 |
$5,553,819
$1,353,020 |
$8,210,698 |
| 25 |
$15,873,234 |
$5,833,427
$1,420,654 |
$8,619,153 |
| 26 |
$16,667,190 |
$6,127,191
$1,491,714 |
$9,048,285 |
| 27 |
$17,500,386 |
$6,435,473
$1,566,285 |
$9,498,628 |
| 28 |
$18,375,438 |
$6,759,242
$1,644,602 |
$9,971,594 |
| 29 |
$19,294,308 |
$7,099,224
$1,726,841 |
$10,468,243 |
| 30 |
$20,258,958 |
$7,456,145
$1,813,177 |
$10,989,636 |
|
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