The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Wed Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(8.95%) | $7,133,150 | | Net Lumpsum Payment | $43,117,520 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$234,389 |
$1,455,171 |
| 2 |
$2,749,896 |
$977,792
$246,116 |
$1,525,988 |
| 3 |
$2,887,356 |
$1,028,652
$258,418 |
$1,600,286 |
| 4 |
$3,031,776 |
$1,082,088
$271,344 |
$1,678,344 |
| 5 |
$3,183,330 |
$1,138,162
$284,908 |
$1,760,260 |
| 6 |
$3,342,540 |
$1,197,070
$299,157 |
$1,846,313 |
| 7 |
$3,509,580 |
$1,258,875
$314,107 |
$1,936,598 |
| 8 |
$3,685,146 |
$1,323,834
$329,821 |
$2,031,491 |
| 9 |
$3,869,412 |
$1,392,013
$346,312 |
$2,131,087 |
| 10 |
$4,062,900 |
$1,463,603
$363,630 |
$2,235,667 |
| 11 |
$4,265,958 |
$1,538,735
$381,803 |
$2,345,420 |
| 12 |
$4,479,282 |
$1,617,665
$400,896 |
$2,460,721 |
| 13 |
$4,703,220 |
$1,700,522
$420,938 |
$2,581,760 |
| 14 |
$4,938,468 |
$1,787,564
$441,993 |
$2,708,911 |
| 15 |
$5,185,374 |
$1,878,919
$464,091 |
$2,842,364 |
| 16 |
$5,444,634 |
$1,974,845
$487,295 |
$2,982,494 |
| 17 |
$5,716,770 |
$2,075,535
$511,651 |
$3,129,584 |
| 18 |
$6,002,652 |
$2,181,312
$537,237 |
$3,284,103 |
| 19 |
$6,302,802 |
$2,292,367
$564,101 |
$3,446,334 |
| 20 |
$6,617,916 |
$2,408,959
$592,303 |
$3,616,654 |
| 21 |
$6,948,864 |
$2,531,410
$621,923 |
$3,795,531 |
| 22 |
$7,296,342 |
$2,659,977
$653,023 |
$3,983,342 |
| 23 |
$7,661,046 |
$2,794,917
$685,664 |
$4,180,465 |
| 24 |
$8,044,194 |
$2,936,682
$719,955 |
$4,387,557 |
| 25 |
$8,446,308 |
$3,085,464
$755,945 |
$4,604,899 |
| 26 |
$8,868,780 |
$3,241,779
$793,756 |
$4,833,245 |
| 27 |
$9,312,132 |
$3,405,819
$833,436 |
$5,072,877 |
| 28 |
$9,777,756 |
$3,578,100
$875,109 |
$5,324,547 |
| 29 |
$10,266,696 |
$3,759,008
$918,869 |
$5,588,819 |
| 30 |
$10,779,996 |
$3,948,929
$964,810 |
$5,866,257 |
|
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