The jackpot for the Powerball draw on Sat Sep 12, 2026, is projected to be $232 Million, with an option for a cash payout of $100 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 Sep 12, 2026 |
|---|
| Draw Date | Sat Sep 12, 2026 | | Projected Jackpot | $232,000,000 | | Cash Value | $100,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $100,000,000 | | Federal Tax(24%) | $24,000,000 | | Additional Federal Tax | $12,960,330 | | State Tax(8.95%) | $8,950,000 | | Net Lumpsum Payment | $54,089,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,491,832 |
$1,252,308
$312,519 |
$1,927,005 |
| 2 |
$3,666,528 |
$1,316,946
$328,154 |
$2,021,428 |
| 3 |
$3,849,808 |
$1,384,759
$344,558 |
$2,120,491 |
| 4 |
$4,042,368 |
$1,456,007
$361,792 |
$2,224,569 |
| 5 |
$4,244,440 |
$1,530,773
$379,877 |
$2,333,790 |
| 6 |
$4,456,720 |
$1,609,317
$398,876 |
$2,448,527 |
| 7 |
$4,679,440 |
$1,691,723
$418,810 |
$2,568,907 |
| 8 |
$4,913,528 |
$1,778,336
$439,761 |
$2,695,431 |
| 9 |
$5,159,216 |
$1,869,240
$461,750 |
$2,828,226 |
| 10 |
$5,417,200 |
$1,964,694
$484,839 |
$2,967,667 |
| 11 |
$5,687,944 |
$2,064,870
$509,071 |
$3,114,003 |
| 12 |
$5,972,376 |
$2,170,110
$534,528 |
$3,267,738 |
| 13 |
$6,270,960 |
$2,280,586
$561,251 |
$3,429,123 |
| 14 |
$6,584,624 |
$2,396,641
$589,324 |
$3,598,659 |
| 15 |
$6,913,832 |
$2,518,448
$618,788 |
$3,776,596 |
| 16 |
$7,259,512 |
$2,646,350
$649,726 |
$3,963,436 |
| 17 |
$7,622,360 |
$2,780,604
$682,201 |
$4,159,555 |
| 18 |
$8,003,536 |
$2,921,639
$716,316 |
$4,365,581 |
| 19 |
$8,403,736 |
$3,069,713
$752,134 |
$4,581,889 |
| 20 |
$8,823,888 |
$3,225,169
$789,738 |
$4,808,981 |
| 21 |
$9,265,152 |
$3,388,437
$829,231 |
$5,047,484 |
| 22 |
$9,728,456 |
$3,559,859
$870,697 |
$5,297,900 |
| 23 |
$10,214,728 |
$3,739,780
$914,218 |
$5,560,730 |
| 24 |
$10,725,592 |
$3,928,799
$959,940 |
$5,836,853 |
| 25 |
$11,261,744 |
$4,127,176
$1,007,926 |
$6,126,642 |
| 26 |
$11,825,040 |
$4,335,595
$1,058,341 |
$6,431,104 |
| 27 |
$12,416,176 |
$4,554,316
$1,111,248 |
$6,750,612 |
| 28 |
$13,037,008 |
$4,784,023
$1,166,812 |
$7,086,173 |
| 29 |
$13,688,928 |
$5,025,234
$1,225,159 |
$7,438,535 |
| 30 |
$14,373,328 |
$5,278,462
$1,286,413 |
$7,808,453 |
|
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