The jackpot for the Powerball draw on Sat Jul 4, 2026, is projected to be $396 Million, with an option for a cash payout of $180.2 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 Jul 4, 2026 |
|---|
| Draw Date | Sat Jul 4, 2026 | | Projected Jackpot | $396,000,000 | | Cash Value | $180,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $180,200,000 | | Federal Tax(24%) | $43,248,000 | | Additional Federal Tax | $23,386,330 | | State Tax(8.95%) | $16,127,900 | | Net Lumpsum Payment | $97,437,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,960,196 |
$2,165,603
$533,438 |
$3,261,155 |
| 2 |
$6,258,384 |
$2,275,932
$560,125 |
$3,422,327 |
| 3 |
$6,571,224 |
$2,391,683
$588,125 |
$3,591,416 |
| 4 |
$6,899,904 |
$2,513,295
$617,541 |
$3,769,068 |
| 5 |
$7,244,820 |
$2,640,914
$648,411 |
$3,955,495 |
| 6 |
$7,607,160 |
$2,774,980
$680,841 |
$4,151,339 |
| 7 |
$7,987,320 |
$2,915,639
$714,865 |
$4,356,816 |
| 8 |
$8,386,884 |
$3,063,477
$750,626 |
$4,572,781 |
| 9 |
$8,806,248 |
$3,218,642
$788,159 |
$4,799,447 |
| 10 |
$9,246,600 |
$3,381,572
$827,571 |
$5,037,457 |
| 11 |
$9,708,732 |
$3,552,561
$868,932 |
$5,287,239 |
| 12 |
$10,194,228 |
$3,732,195
$912,383 |
$5,549,650 |
| 13 |
$10,703,880 |
$3,920,766
$957,997 |
$5,825,117 |
| 14 |
$11,239,272 |
$4,118,861
$1,005,915 |
$6,114,496 |
| 15 |
$11,801,196 |
$4,326,773
$1,056,207 |
$6,418,216 |
| 16 |
$12,391,236 |
$4,545,088
$1,109,016 |
$6,737,132 |
| 17 |
$13,010,580 |
$4,774,245
$1,164,447 |
$7,071,888 |
| 18 |
$13,661,208 |
$5,014,977
$1,222,678 |
$7,423,553 |
| 19 |
$14,344,308 |
$5,267,724
$1,283,816 |
$7,792,768 |
| 20 |
$15,061,464 |
$5,533,072
$1,348,001 |
$8,180,391 |
| 21 |
$15,814,656 |
$5,811,753
$1,415,412 |
$8,587,491 |
| 22 |
$16,605,468 |
$6,104,354
$1,486,189 |
$9,014,925 |
| 23 |
$17,435,484 |
$6,411,459
$1,560,476 |
$9,463,549 |
| 24 |
$18,307,476 |
$6,734,097
$1,638,519 |
$9,934,860 |
| 25 |
$19,222,632 |
$7,072,704
$1,720,426 |
$10,429,502 |
| 26 |
$20,184,120 |
$7,428,455
$1,806,479 |
$10,949,186 |
| 27 |
$21,193,128 |
$7,801,788
$1,896,785 |
$11,494,555 |
| 28 |
$22,252,824 |
$8,193,875
$1,991,628 |
$12,067,321 |
| 29 |
$23,365,584 |
$8,605,596
$2,091,220 |
$12,668,768 |
| 30 |
$24,533,784 |
$9,037,830
$2,195,774 |
$13,300,180 |
|
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