The jackpot for the Powerball draw on Sat Jan 10, 2026, is projected to be $124 Million, with an option for a cash payout of $56 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 Jan 10, 2026 |
|---|
| Draw Date | Sat Jan 10, 2026 | | Projected Jackpot | $124,000,000 | | Cash Value | $56,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $56,000,000 | | Federal Tax(24%) | $13,440,000 | | Additional Federal Tax | $7,240,330 | | State Tax(8.95%) | $5,012,000 | | Net Lumpsum Payment | $30,307,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,866,324 |
$650,870
$167,036 |
$1,048,418 |
| 2 |
$1,959,696 |
$685,418
$175,393 |
$1,098,885 |
| 3 |
$2,057,656 |
$721,663
$184,160 |
$1,151,833 |
| 4 |
$2,160,576 |
$759,744
$193,372 |
$1,207,460 |
| 5 |
$2,268,580 |
$799,705
$203,038 |
$1,265,837 |
| 6 |
$2,382,040 |
$841,685
$213,193 |
$1,327,162 |
| 7 |
$2,501,080 |
$885,730
$223,847 |
$1,391,503 |
| 8 |
$2,626,196 |
$932,023
$235,045 |
$1,459,128 |
| 9 |
$2,757,512 |
$980,610
$246,797 |
$1,530,105 |
| 10 |
$2,895,400 |
$1,031,628
$259,138 |
$1,604,634 |
| 11 |
$3,040,108 |
$1,085,170
$272,090 |
$1,682,848 |
| 12 |
$3,192,132 |
$1,141,419
$285,696 |
$1,765,017 |
| 13 |
$3,351,720 |
$1,200,467
$299,979 |
$1,851,274 |
| 14 |
$3,519,368 |
$1,262,497
$314,983 |
$1,941,888 |
| 15 |
$3,695,324 |
$1,327,600
$330,731 |
$2,036,993 |
| 16 |
$3,880,084 |
$1,395,961
$347,268 |
$2,136,855 |
| 17 |
$4,074,020 |
$1,467,718
$364,625 |
$2,241,677 |
| 18 |
$4,277,752 |
$1,543,099
$382,859 |
$2,351,794 |
| 19 |
$4,491,652 |
$1,622,242
$402,003 |
$2,467,407 |
| 20 |
$4,716,216 |
$1,705,330
$422,101 |
$2,588,785 |
| 21 |
$4,952,064 |
$1,792,594
$443,210 |
$2,716,260 |
| 22 |
$5,199,692 |
$1,884,216
$465,372 |
$2,850,104 |
| 23 |
$5,459,596 |
$1,980,381
$488,634 |
$2,990,581 |
| 24 |
$5,732,644 |
$2,081,409
$513,072 |
$3,138,163 |
| 25 |
$6,019,208 |
$2,187,437
$538,719 |
$3,293,052 |
| 26 |
$6,320,280 |
$2,298,834
$565,665 |
$3,455,781 |
| 27 |
$6,636,232 |
$2,415,736
$593,943 |
$3,626,553 |
| 28 |
$6,968,056 |
$2,538,511
$623,641 |
$3,805,904 |
| 29 |
$7,316,496 |
$2,667,434
$654,826 |
$3,994,236 |
| 30 |
$7,682,296 |
$2,802,780
$687,565 |
$4,191,951 |
|
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