The jackpot for the Powerball draw on Sat Jul 5, 2025, is projected to be $190 Million, with an option for a cash payout of $87 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 Jul 5, 2025 |
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Draw Date | Sat Jul 5, 2025 | Projected Jackpot | $190,000,000 | Cash Value | $87,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $87,000,000 | Federal Tax(24%) | $20,880,000 | Additional Federal Tax | $11,270,330 | State Tax(8.95%) | $7,786,500 | Net Lumpsum Payment | $47,063,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,859,690 |
$1,018,416 $255,942 |
$1,585,332 |
2 |
$3,002,760 |
$1,071,352 $268,747 |
$1,662,661 |
3 |
$3,152,860 |
$1,126,889 $282,181 |
$1,743,790 |
4 |
$3,310,560 |
$1,185,238 $296,295 |
$1,829,027 |
5 |
$3,476,050 |
$1,246,469 $311,106 |
$1,918,475 |
6 |
$3,649,900 |
$1,310,793 $326,666 |
$2,012,441 |
7 |
$3,832,300 |
$1,378,281 $342,991 |
$2,111,028 |
8 |
$4,024,010 |
$1,449,214 $360,149 |
$2,214,647 |
9 |
$4,225,220 |
$1,523,662 $378,157 |
$2,323,401 |
10 |
$4,436,500 |
$1,601,835 $397,067 |
$2,437,598 |
11 |
$4,658,230 |
$1,683,875 $416,912 |
$2,557,443 |
12 |
$4,891,170 |
$1,770,063 $437,760 |
$2,683,347 |
13 |
$5,135,700 |
$1,860,539 $459,645 |
$2,815,516 |
14 |
$5,392,580 |
$1,955,585 $482,636 |
$2,954,359 |
15 |
$5,662,190 |
$2,055,341 $506,766 |
$3,100,083 |
16 |
$5,945,290 |
$2,160,088 $532,103 |
$3,253,099 |
17 |
$6,242,450 |
$2,270,037 $558,699 |
$3,413,714 |
18 |
$6,554,620 |
$2,385,540 $586,638 |
$3,582,442 |
19 |
$6,882,370 |
$2,506,807 $615,972 |
$3,759,591 |
20 |
$7,226,460 |
$2,634,121 $646,768 |
$3,945,571 |
21 |
$7,587,840 |
$2,767,831 $679,112 |
$4,140,897 |
22 |
$7,967,270 |
$2,908,220 $713,071 |
$4,345,979 |
23 |
$8,365,510 |
$3,055,569 $748,713 |
$4,561,228 |
24 |
$8,783,890 |
$3,210,370 $786,158 |
$4,787,362 |
25 |
$9,222,980 |
$3,372,833 $825,457 |
$5,024,690 |
26 |
$9,684,300 |
$3,543,521 $866,745 |
$5,274,034 |
27 |
$10,168,420 |
$3,722,646 $910,074 |
$5,535,700 |
28 |
$10,676,860 |
$3,910,769 $955,579 |
$5,810,512 |
29 |
$11,210,760 |
$4,108,312 $1,003,363 |
$6,099,085 |
30 |
$11,771,260 |
$4,315,697 $1,053,528 |
$6,402,035 |
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