The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 Sat May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(8.95%) | $3,374,150 | | Net Lumpsum Payment | $20,416,520 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$110,459 |
$706,745 |
| 2 |
$1,295,928 |
$439,824
$115,986 |
$740,118 |
| 3 |
$1,360,708 |
$463,792
$121,783 |
$775,133 |
| 4 |
$1,428,768 |
$488,975
$127,875 |
$811,918 |
| 5 |
$1,500,190 |
$515,401
$134,267 |
$850,522 |
| 6 |
$1,575,220 |
$543,162
$140,982 |
$891,076 |
| 7 |
$1,653,940 |
$572,288
$148,028 |
$933,624 |
| 8 |
$1,736,678 |
$602,901
$155,433 |
$978,344 |
| 9 |
$1,823,516 |
$635,031
$163,205 |
$1,025,280 |
| 10 |
$1,914,700 |
$668,769
$171,366 |
$1,074,565 |
| 11 |
$2,010,394 |
$704,176
$179,930 |
$1,126,288 |
| 12 |
$2,110,926 |
$741,373
$188,928 |
$1,180,625 |
| 13 |
$2,216,460 |
$780,421
$198,373 |
$1,237,666 |
| 14 |
$2,327,324 |
$821,440
$208,295 |
$1,297,589 |
| 15 |
$2,443,682 |
$864,493
$218,710 |
$1,360,479 |
| 16 |
$2,565,862 |
$909,699
$229,645 |
$1,426,518 |
| 17 |
$2,694,110 |
$957,151
$241,123 |
$1,495,836 |
| 18 |
$2,828,836 |
$1,007,000
$253,181 |
$1,568,655 |
| 19 |
$2,970,286 |
$1,059,336
$265,841 |
$1,645,109 |
| 20 |
$3,118,788 |
$1,114,282
$279,132 |
$1,725,374 |
| 21 |
$3,274,752 |
$1,171,989
$293,090 |
$1,809,673 |
| 22 |
$3,438,506 |
$1,232,578
$307,746 |
$1,898,182 |
| 23 |
$3,610,378 |
$1,296,170
$323,129 |
$1,991,079 |
| 24 |
$3,790,942 |
$1,362,979
$339,289 |
$2,088,674 |
| 25 |
$3,980,444 |
$1,433,095
$356,250 |
$2,191,099 |
| 26 |
$4,179,540 |
$1,506,760
$374,069 |
$2,298,711 |
| 27 |
$4,388,476 |
$1,584,067
$392,769 |
$2,411,640 |
| 28 |
$4,607,908 |
$1,665,256
$412,408 |
$2,530,244 |
| 29 |
$4,838,328 |
$1,750,512
$433,030 |
$2,654,786 |
| 30 |
$5,080,228 |
$1,840,015
$454,680 |
$2,785,533 |
|
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