Maryland Lottery

MDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 24, 2026 is estimated to be $20 Million, with a cash option of 9.1 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 Sat Jan 24, 2026

Draw Date	Jackpot	Cash Option
Sat Jan 24, 2026	$20,000,000	$9,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$9,100,000
Federal Tax(24%)	$2,184,000
Additional Federal Tax	$1,143,330
State Tax(8.95%)	$814,450
Net Lumpsum Payment	$4,958,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$301,020	-$71,708 -$26,941	$202,371
2	$316,080	-$77,280 -$28,289	$210,511
3	$331,880	-$83,126 -$29,703	$219,051
4	$348,480	-$89,268 -$31,189	$228,023
5	$365,900	-$95,713 -$32,748	$237,439
6	$384,200	-$102,484 -$34,386	$247,330
7	$403,400	-$109,588 -$36,104	$257,708
8	$423,580	-$117,055 -$37,910	$268,615
9	$444,760	-$124,892 -$39,806	$280,062
10	$467,000	-$133,120 -$41,797	$292,083
11	$490,340	-$141,756 -$43,885	$304,699
12	$514,860	-$150,829 -$46,080	$317,951
13	$540,600	-$160,352 -$48,384	$331,864
14	$567,640	-$170,357 -$50,804	$346,479
15	$596,020	-$180,858 -$53,344	$361,818
16	$625,820	-$191,884 -$56,011	$377,925
17	$657,100	-$203,457 -$58,810	$394,833
18	$689,960	-$215,616 -$61,751	$412,593
19	$724,460	-$228,381 -$64,839	$431,240
20	$760,680	-$241,782 -$68,081	$450,817
21	$798,720	-$255,857 -$71,485	$471,378
22	$838,660	-$270,635 -$75,060	$492,965
23	$880,580	-$286,145 -$78,812	$515,623
24	$924,620	-$302,440 -$82,753	$539,427
25	$970,840	-$319,541 -$86,890	$564,409
26	$1,019,400	-$337,508 -$91,236	$590,656
27	$1,070,360	-$356,364 -$95,797	$618,199
28	$1,123,880	-$376,166 -$100,587	$647,127
29	$1,180,080	-$396,960 -$105,617	$677,503
30	$1,239,080	-$418,790 -$110,898	$709,392