Jackpot Analysis Maryland Powerball

Jackpot Analysis for Maryland Powerball
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
Draw DateSat Feb 15, 2025
Projected Jackpot$172,000,000
Cash Value$79,700,000

Lumpsum Option Taxes and Payment
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
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