The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
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 |
|
|
