Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 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 Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(8.95%)	$14,078,350
Net Lumpsum Payment	$85,060,320

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$451,267	$2,764,916
2	$5,294,340	-$1,919,236 -$473,843	$2,901,261
3	$5,558,990	-$2,017,157 -$497,530	$3,044,303
4	$5,837,040	-$2,120,035 -$522,415	$3,194,590
5	$6,128,825	-$2,227,996 -$548,530	$3,352,299
6	$6,435,350	-$2,341,410 -$575,964	$3,517,976
7	$6,756,950	-$2,460,402 -$604,747	$3,691,801
8	$7,094,965	-$2,585,467 -$634,999	$3,874,499
9	$7,449,730	-$2,716,730 -$666,751	$4,066,249
10	$7,822,250	-$2,854,563 -$700,091	$4,267,596
11	$8,213,195	-$2,999,213 -$735,081	$4,478,901
12	$8,623,905	-$3,151,175 -$771,839	$4,700,891
13	$9,055,050	-$3,310,699 -$810,427	$4,933,924
14	$9,507,970	-$3,478,279 -$850,963	$5,178,728
15	$9,983,335	-$3,654,164 -$893,508	$5,435,663
16	$10,482,485	-$3,838,850 -$938,182	$5,705,453
17	$11,006,425	-$4,032,708 -$985,075	$5,988,642
18	$11,556,830	-$4,236,357 -$1,034,336	$6,286,137
19	$12,134,705	-$4,450,171 -$1,086,056	$6,598,478
20	$12,741,390	-$4,674,645 -$1,140,354	$6,926,391
21	$13,378,560	-$4,910,398 -$1,197,381	$7,270,781
22	$14,047,555	-$5,157,926 -$1,257,256	$7,632,373
23	$14,749,715	-$5,417,725 -$1,320,099	$8,011,891
24	$15,487,385	-$5,690,663 -$1,386,121	$8,410,601
25	$16,261,570	-$5,977,111 -$1,455,411	$8,829,048
26	$17,074,950	-$6,278,062 -$1,528,208	$9,268,680
27	$17,928,530	-$6,593,886 -$1,604,603	$9,730,041
28	$18,824,990	-$6,925,577 -$1,684,837	$10,214,576
29	$19,766,340	-$7,273,876 -$1,769,087	$10,723,377
30	$20,754,590	-$7,639,529 -$1,857,536	$11,257,525