The jackpot for the Powerball draw on Sat Mar 21, 2026, is projected to be $120 Million, with an option for a cash payout of $54.6 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 21, 2026 |
|---|
| Draw Date | Sat Mar 21, 2026 | | Projected Jackpot | $120,000,000 | | Cash Value | $54,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,600,000 | | Federal Tax(24%) | $13,104,000 | | Additional Federal Tax | $7,058,330 | | State Tax(8.95%) | $4,886,700 | | Net Lumpsum Payment | $29,550,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$161,648 |
$1,015,877 |
| 2 |
$1,896,480 |
$662,028
$169,735 |
$1,064,717 |
| 3 |
$1,991,280 |
$697,104
$178,220 |
$1,115,956 |
| 4 |
$2,090,880 |
$733,956
$187,134 |
$1,169,790 |
| 5 |
$2,195,400 |
$772,628
$196,488 |
$1,226,284 |
| 6 |
$2,305,200 |
$813,254
$206,315 |
$1,285,631 |
| 7 |
$2,420,400 |
$855,878
$216,626 |
$1,347,896 |
| 8 |
$2,541,480 |
$900,678
$227,462 |
$1,413,340 |
| 9 |
$2,668,560 |
$947,698
$238,836 |
$1,482,026 |
| 10 |
$2,802,000 |
$997,070
$250,779 |
$1,554,151 |
| 11 |
$2,942,040 |
$1,048,885
$263,313 |
$1,629,842 |
| 12 |
$3,089,160 |
$1,103,320
$276,480 |
$1,709,360 |
| 13 |
$3,243,600 |
$1,160,462
$290,302 |
$1,792,836 |
| 14 |
$3,405,840 |
$1,220,491
$304,823 |
$1,880,526 |
| 15 |
$3,576,120 |
$1,283,495
$320,063 |
$1,972,562 |
| 16 |
$3,754,920 |
$1,349,651
$336,065 |
$2,069,204 |
| 17 |
$3,942,600 |
$1,419,092
$352,863 |
$2,170,645 |
| 18 |
$4,139,760 |
$1,492,042
$370,509 |
$2,277,209 |
| 19 |
$4,346,760 |
$1,568,632
$389,035 |
$2,389,093 |
| 20 |
$4,564,080 |
$1,649,040
$408,485 |
$2,506,555 |
| 21 |
$4,792,320 |
$1,733,489
$428,913 |
$2,629,918 |
| 22 |
$5,031,960 |
$1,822,156
$450,360 |
$2,759,444 |
| 23 |
$5,283,480 |
$1,915,218
$472,871 |
$2,895,391 |
| 24 |
$5,547,720 |
$2,012,987
$496,521 |
$3,038,212 |
| 25 |
$5,825,040 |
$2,115,595
$521,341 |
$3,188,104 |
| 26 |
$6,116,400 |
$2,223,398
$547,418 |
$3,345,584 |
| 27 |
$6,422,160 |
$2,336,530
$574,783 |
$3,510,847 |
| 28 |
$6,743,280 |
$2,455,344
$603,524 |
$3,684,412 |
| 29 |
$7,080,480 |
$2,580,108
$633,703 |
$3,866,669 |
| 30 |
$7,434,480 |
$2,711,088
$665,386 |
$4,058,006 |
|
|
