The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 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 Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(8.95%) | $5,155,200 | | Net Lumpsum Payment | $31,172,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$172,424 |
$1,080,958 |
| 2 |
$2,022,912 |
$708,808
$181,051 |
$1,133,053 |
| 3 |
$2,124,032 |
$746,222
$190,101 |
$1,187,709 |
| 4 |
$2,230,272 |
$785,531
$199,609 |
$1,245,132 |
| 5 |
$2,341,760 |
$826,782
$209,588 |
$1,305,390 |
| 6 |
$2,458,880 |
$870,116
$220,070 |
$1,368,694 |
| 7 |
$2,581,760 |
$915,582
$231,068 |
$1,435,110 |
| 8 |
$2,710,912 |
$963,368
$242,627 |
$1,504,917 |
| 9 |
$2,846,464 |
$1,013,522
$254,759 |
$1,578,183 |
| 10 |
$2,988,800 |
$1,066,186
$267,498 |
$1,655,116 |
| 11 |
$3,138,176 |
$1,121,456
$280,867 |
$1,735,853 |
| 12 |
$3,295,104 |
$1,179,519
$294,912 |
$1,820,673 |
| 13 |
$3,459,840 |
$1,240,471
$309,656 |
$1,909,713 |
| 14 |
$3,632,896 |
$1,304,502
$325,144 |
$2,003,250 |
| 15 |
$3,814,528 |
$1,371,706
$341,400 |
$2,101,422 |
| 16 |
$4,005,248 |
$1,442,272
$358,470 |
$2,204,506 |
| 17 |
$4,205,440 |
$1,516,343
$376,387 |
$2,312,710 |
| 18 |
$4,415,744 |
$1,594,156
$395,209 |
$2,426,379 |
| 19 |
$4,636,544 |
$1,675,852
$414,971 |
$2,545,721 |
| 20 |
$4,868,352 |
$1,761,621
$435,718 |
$2,671,013 |
| 21 |
$5,111,808 |
$1,851,699
$457,507 |
$2,802,602 |
| 22 |
$5,367,424 |
$1,946,277
$480,384 |
$2,940,763 |
| 23 |
$5,635,712 |
$2,045,544
$504,396 |
$3,085,772 |
| 24 |
$5,917,568 |
$2,149,831
$529,622 |
$3,238,115 |
| 25 |
$6,213,376 |
$2,259,280
$556,097 |
$3,397,999 |
| 26 |
$6,524,160 |
$2,374,270
$583,912 |
$3,565,978 |
| 27 |
$6,850,304 |
$2,494,943
$613,102 |
$3,742,259 |
| 28 |
$7,192,832 |
$2,621,678
$643,758 |
$3,927,396 |
| 29 |
$7,552,512 |
$2,754,760
$675,950 |
$4,121,802 |
| 30 |
$7,930,112 |
$2,894,472
$709,745 |
$4,325,895 |
|
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