The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 Wed Jul 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(8.95%) | $22,536,100 | | Net Lumpsum Payment | $136,137,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$763,786 |
$4,652,251 |
| 2 |
$8,960,868 |
$3,275,852
$801,998 |
$4,883,018 |
| 3 |
$9,408,798 |
$3,441,586
$842,087 |
$5,125,125 |
| 4 |
$9,879,408 |
$3,615,711
$884,207 |
$5,379,490 |
| 5 |
$10,373,265 |
$3,798,438
$928,407 |
$5,646,420 |
| 6 |
$10,892,070 |
$3,990,396
$974,840 |
$5,926,834 |
| 7 |
$11,436,390 |
$4,191,795
$1,023,557 |
$6,221,038 |
| 8 |
$12,008,493 |
$4,403,473
$1,074,760 |
$6,530,260 |
| 9 |
$12,608,946 |
$4,625,640
$1,128,501 |
$6,854,805 |
| 10 |
$13,239,450 |
$4,858,927
$1,184,931 |
$7,195,592 |
| 11 |
$13,901,139 |
$5,103,752
$1,244,152 |
$7,553,235 |
| 12 |
$14,596,281 |
$5,360,954
$1,306,367 |
$7,928,960 |
| 13 |
$15,326,010 |
$5,630,954
$1,371,678 |
$8,323,378 |
| 14 |
$16,092,594 |
$5,914,590
$1,440,287 |
$8,737,717 |
| 15 |
$16,897,167 |
$6,212,282
$1,512,296 |
$9,172,589 |
| 16 |
$17,741,997 |
$6,524,869
$1,587,909 |
$9,629,219 |
| 17 |
$18,628,785 |
$6,852,981
$1,667,276 |
$10,108,528 |
| 18 |
$19,560,366 |
$7,197,666
$1,750,653 |
$10,612,047 |
| 19 |
$20,538,441 |
$7,559,554
$1,838,190 |
$11,140,697 |
| 20 |
$21,565,278 |
$7,939,483
$1,930,092 |
$11,695,703 |
| 21 |
$22,643,712 |
$8,338,504
$2,026,612 |
$12,278,596 |
| 22 |
$23,776,011 |
$8,757,454
$2,127,953 |
$12,890,604 |
| 23 |
$24,964,443 |
$9,197,174
$2,234,318 |
$13,532,951 |
| 24 |
$26,212,977 |
$9,659,132
$2,346,061 |
$14,207,784 |
| 25 |
$27,523,314 |
$10,143,957
$2,463,337 |
$14,916,020 |
| 26 |
$28,899,990 |
$10,653,327
$2,586,549 |
$15,660,114 |
| 27 |
$30,344,706 |
$11,187,872
$2,715,851 |
$16,440,983 |
| 28 |
$31,861,998 |
$11,749,270
$2,851,649 |
$17,261,079 |
| 29 |
$33,455,268 |
$12,338,780
$2,994,246 |
$18,122,242 |
| 30 |
$35,127,918 |
$12,957,660
$3,143,949 |
$19,026,309 |
|
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