The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 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 Mon Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(8.95%) | $8,466,700 | | Net Lumpsum Payment | $51,170,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$273,454 |
$1,691,088 |
| 2 |
$3,208,212 |
$1,147,369
$287,135 |
$1,773,708 |
| 3 |
$3,368,582 |
$1,206,706
$301,488 |
$1,860,388 |
| 4 |
$3,537,072 |
$1,269,047
$316,568 |
$1,951,457 |
| 5 |
$3,713,885 |
$1,334,468
$332,393 |
$2,047,024 |
| 6 |
$3,899,630 |
$1,403,193
$349,017 |
$2,147,420 |
| 7 |
$4,094,510 |
$1,475,299
$366,459 |
$2,252,752 |
| 8 |
$4,299,337 |
$1,551,085
$384,791 |
$2,363,461 |
| 9 |
$4,514,314 |
$1,630,627
$404,031 |
$2,479,656 |
| 10 |
$4,740,050 |
$1,714,149
$424,234 |
$2,601,667 |
| 11 |
$4,976,951 |
$1,801,802
$445,437 |
$2,729,712 |
| 12 |
$5,225,829 |
$1,893,887
$467,712 |
$2,864,230 |
| 13 |
$5,487,090 |
$1,990,554
$491,095 |
$3,005,441 |
| 14 |
$5,761,546 |
$2,092,102
$515,658 |
$3,153,786 |
| 15 |
$6,049,603 |
$2,198,683
$541,439 |
$3,309,481 |
| 16 |
$6,352,073 |
$2,310,597
$568,511 |
$3,472,965 |
| 17 |
$6,669,565 |
$2,428,069
$596,926 |
$3,644,570 |
| 18 |
$7,003,094 |
$2,551,475
$626,777 |
$3,824,842 |
| 19 |
$7,353,269 |
$2,681,040
$658,118 |
$4,014,111 |
| 20 |
$7,720,902 |
$2,817,064
$691,021 |
$4,212,817 |
| 21 |
$8,107,008 |
$2,959,923
$725,577 |
$4,421,508 |
| 22 |
$8,512,399 |
$3,109,918
$761,860 |
$4,640,621 |
| 23 |
$8,937,887 |
$3,267,349
$799,941 |
$4,870,597 |
| 24 |
$9,384,893 |
$3,432,741
$839,948 |
$5,112,204 |
| 25 |
$9,854,026 |
$3,606,320
$881,935 |
$5,365,771 |
| 26 |
$10,346,910 |
$3,788,687
$926,048 |
$5,632,175 |
| 27 |
$10,864,154 |
$3,980,067
$972,342 |
$5,911,745 |
| 28 |
$11,407,382 |
$4,181,062
$1,020,961 |
$6,205,359 |
| 29 |
$11,977,812 |
$4,392,121
$1,072,014 |
$6,513,677 |
| 30 |
$12,576,662 |
$4,613,695
$1,125,611 |
$6,837,356 |
|
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