Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Oct 26, 2026 is estimated to be $687 Million, with a cash option of 294.7 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 Mon Oct 26, 2026

Draw Date	Jackpot	Cash Option
Mon Oct 26, 2026	$687,000,000	$294,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$294,700,000
Federal Tax(24%)	$70,728,000
Additional Federal Tax	$38,271,330
State Tax(8.95%)	$26,375,650
Net Lumpsum Payment	$159,325,020

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,340,037	-$3,786,144 -$925,433	$5,628,460
2	$10,857,348	-$3,977,549 -$971,733	$5,908,066
3	$11,400,078	-$4,178,359 -$1,020,307	$6,201,412
4	$11,970,288	-$4,389,337 -$1,071,341	$6,509,610
5	$12,568,665	-$4,610,736 -$1,124,896	$6,833,033
6	$13,197,270	-$4,843,320 -$1,181,156	$7,172,794
7	$13,856,790	-$5,087,343 -$1,240,183	$7,529,264
8	$14,549,973	-$5,343,820 -$1,302,223	$7,903,930
9	$15,277,506	-$5,613,008 -$1,367,337	$8,297,161
10	$16,041,450	-$5,895,667 -$1,435,710	$8,710,073
11	$16,843,179	-$6,192,307 -$1,507,465	$9,143,407
12	$17,685,441	-$6,503,944 -$1,582,847	$9,598,650
13	$18,569,610	-$6,831,086 -$1,661,980	$10,076,544
14	$19,498,434	-$7,174,751 -$1,745,110	$10,578,573
15	$20,473,287	-$7,535,447 -$1,832,359	$11,105,481
16	$21,496,917	-$7,914,190 -$1,923,974	$11,658,753
17	$22,571,385	-$8,311,743 -$2,020,139	$12,239,503
18	$23,700,126	-$8,729,377 -$2,121,161	$12,849,588
19	$24,885,201	-$9,167,855 -$2,227,225	$13,490,121
20	$26,129,358	-$9,628,193 -$2,338,578	$14,162,587
21	$27,436,032	-$10,111,662 -$2,455,525	$14,868,845
22	$28,807,971	-$10,619,280 -$2,578,313	$15,610,378
23	$30,247,923	-$11,152,062 -$2,707,189	$16,388,672
24	$31,760,697	-$11,711,788 -$2,842,582	$17,206,327
25	$33,348,354	-$12,299,221 -$2,984,678	$18,064,455
26	$35,016,390	-$12,916,395 -$3,133,967	$18,966,028
27	$36,766,866	-$13,564,071 -$3,290,635	$19,912,160
28	$38,605,278	-$14,244,283 -$3,455,172	$20,905,823
29	$40,535,748	-$14,958,557 -$3,627,949	$21,949,242
30	$42,562,398	-$15,708,418 -$3,809,335	$23,044,645