Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 24, 2026 is estimated to be $81 Million, with a cash option of 34.8 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 Aug 24, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 24, 2026	$81,000,000	$34,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,800,000
Federal Tax(24%)	$8,352,000
Additional Federal Tax	$4,484,330
State Tax(8.95%)	$3,114,600
Net Lumpsum Payment	$18,849,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,219,131	-$411,409 -$109,112	$698,610
2	$1,280,124	-$433,976 -$114,571	$731,577
3	$1,344,114	-$457,653 -$120,298	$766,163
4	$1,411,344	-$482,528 -$126,315	$802,501
5	$1,481,895	-$508,632 -$132,630	$840,633
6	$1,556,010	-$536,054 -$139,263	$880,693
7	$1,633,770	-$564,825 -$146,222	$922,723
8	$1,715,499	-$595,065 -$153,537	$966,897
9	$1,801,278	-$626,803 -$161,214	$1,013,261
10	$1,891,350	-$660,130 -$169,276	$1,061,944
11	$1,985,877	-$695,105 -$177,736	$1,113,036
12	$2,085,183	-$731,848 -$186,624	$1,166,711
13	$2,189,430	-$770,419 -$195,954	$1,223,057
14	$2,298,942	-$810,939 -$205,755	$1,282,248
15	$2,413,881	-$853,466 -$216,042	$1,344,373
16	$2,534,571	-$898,122 -$226,844	$1,409,605
17	$2,661,255	-$944,995 -$238,182	$1,478,078
18	$2,794,338	-$994,235 -$250,093	$1,550,010
19	$2,934,063	-$1,045,934 -$262,599	$1,625,530
20	$3,080,754	-$1,100,209 -$275,727	$1,704,818
21	$3,234,816	-$1,157,212 -$289,516	$1,788,088
22	$3,396,573	-$1,217,062 -$303,993	$1,875,518
23	$3,566,349	-$1,279,880 -$319,188	$1,967,281
24	$3,744,711	-$1,345,873 -$335,152	$2,063,686
25	$3,931,902	-$1,415,134 -$351,905	$2,164,863
26	$4,128,570	-$1,487,901 -$369,507	$2,271,162
27	$4,334,958	-$1,564,265 -$387,979	$2,382,714
28	$4,551,714	-$1,644,465 -$407,378	$2,499,871
29	$4,779,324	-$1,728,680 -$427,749	$2,622,895
30	$5,018,274	-$1,817,092 -$449,136	$2,752,046