The jackpot for the Powerball draw on Sat Mar 7, 2026, is projected to be $35 Million, with an option for a cash payout of $16.5 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 Sat Mar 7, 2026 |
|---|
| Draw Date | Sat Mar 7, 2026 | | Projected Jackpot | $35,000,000 | | Cash Value | $16,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $16,500,000 | | Federal Tax(24%) | $3,960,000 | | Additional Federal Tax | $2,105,330 | | State Tax(8.95%) | $1,476,750 | | Net Lumpsum Payment | $8,957,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$526,785 |
$155,241
$47,147 |
$324,397 |
| 2 |
$553,140 |
$164,992
$49,506 |
$338,642 |
| 3 |
$580,790 |
$175,223
$51,981 |
$353,586 |
| 4 |
$609,840 |
$185,971
$54,581 |
$369,288 |
| 5 |
$640,325 |
$197,251
$57,309 |
$385,765 |
| 6 |
$672,350 |
$209,100
$60,175 |
$403,075 |
| 7 |
$705,950 |
$221,532
$63,183 |
$421,235 |
| 8 |
$741,265 |
$234,598
$66,343 |
$440,324 |
| 9 |
$778,330 |
$248,312
$69,661 |
$460,357 |
| 10 |
$817,250 |
$262,713
$73,144 |
$481,393 |
| 11 |
$858,095 |
$277,826
$76,800 |
$503,469 |
| 12 |
$901,005 |
$293,702
$80,640 |
$526,663 |
| 13 |
$946,050 |
$310,369
$84,671 |
$551,010 |
| 14 |
$993,370 |
$327,877
$88,907 |
$576,586 |
| 15 |
$1,043,035 |
$346,253
$93,352 |
$603,430 |
| 16 |
$1,095,185 |
$365,549
$98,019 |
$631,617 |
| 17 |
$1,149,925 |
$385,803
$102,918 |
$661,204 |
| 18 |
$1,207,430 |
$407,079
$108,065 |
$692,286 |
| 19 |
$1,267,805 |
$429,418
$113,469 |
$724,918 |
| 20 |
$1,331,190 |
$452,871
$119,142 |
$759,177 |
| 21 |
$1,397,760 |
$477,502
$125,100 |
$795,158 |
| 22 |
$1,467,655 |
$503,363
$131,355 |
$832,937 |
| 23 |
$1,541,015 |
$530,506
$137,921 |
$872,588 |
| 24 |
$1,618,085 |
$559,022
$144,819 |
$914,244 |
| 25 |
$1,698,970 |
$588,949
$152,058 |
$957,963 |
| 26 |
$1,783,950 |
$620,392
$159,664 |
$1,003,894 |
| 27 |
$1,873,130 |
$653,388
$167,645 |
$1,052,097 |
| 28 |
$1,966,790 |
$688,043
$176,028 |
$1,102,719 |
| 29 |
$2,065,140 |
$724,432
$184,830 |
$1,155,878 |
| 30 |
$2,168,390 |
$762,635
$194,071 |
$1,211,684 |
|
|
