The jackpot for the Powerball draw on Sat Jun 6, 2026, is projected to be $212 Million, with an option for a cash payout of $94.7 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 Jun 6, 2026 |
|---|
| Draw Date | Sat Jun 6, 2026 | | Projected Jackpot | $212,000,000 | | Cash Value | $94,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,700,000 | | Federal Tax(24%) | $22,728,000 | | Additional Federal Tax | $12,271,330 | | State Tax(8.95%) | $8,475,650 | | Net Lumpsum Payment | $51,225,020 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,190,812 |
$1,140,931
$285,578 |
$1,764,303 |
| 2 |
$3,350,448 |
$1,199,996
$299,865 |
$1,850,587 |
| 3 |
$3,517,928 |
$1,261,964
$314,855 |
$1,941,109 |
| 4 |
$3,693,888 |
$1,327,069
$330,603 |
$2,036,216 |
| 5 |
$3,878,540 |
$1,395,390
$347,129 |
$2,136,021 |
| 6 |
$4,072,520 |
$1,467,163
$364,491 |
$2,240,866 |
| 7 |
$4,276,040 |
$1,542,465
$382,706 |
$2,350,869 |
| 8 |
$4,489,948 |
$1,621,611
$401,850 |
$2,466,487 |
| 9 |
$4,714,456 |
$1,704,679
$421,944 |
$2,587,833 |
| 10 |
$4,950,200 |
$1,791,904
$443,043 |
$2,715,253 |
| 11 |
$5,197,604 |
$1,883,444
$465,186 |
$2,848,974 |
| 12 |
$5,457,516 |
$1,979,611
$488,448 |
$2,989,457 |
| 13 |
$5,730,360 |
$2,080,564
$512,867 |
$3,136,929 |
| 14 |
$6,016,984 |
$2,186,614
$538,520 |
$3,291,850 |
| 15 |
$6,317,812 |
$2,297,921
$565,444 |
$3,454,447 |
| 16 |
$6,633,692 |
$2,414,796
$593,715 |
$3,625,181 |
| 17 |
$6,965,260 |
$2,537,477
$623,391 |
$3,804,392 |
| 18 |
$7,313,576 |
$2,666,354
$654,565 |
$3,992,657 |
| 19 |
$7,679,276 |
$2,801,663
$687,295 |
$4,190,318 |
| 20 |
$8,063,208 |
$2,943,717
$721,657 |
$4,397,834 |
| 21 |
$8,466,432 |
$3,092,910
$757,746 |
$4,615,776 |
| 22 |
$8,889,796 |
$3,249,555
$795,637 |
$4,844,604 |
| 23 |
$9,334,148 |
$3,413,965
$835,406 |
$5,084,777 |
| 24 |
$9,800,972 |
$3,586,690
$877,187 |
$5,337,095 |
| 25 |
$10,290,904 |
$3,767,965
$921,036 |
$5,601,903 |
| 26 |
$10,805,640 |
$3,958,417
$967,105 |
$5,880,118 |
| 27 |
$11,345,816 |
$4,158,282
$1,015,451 |
$6,172,083 |
| 28 |
$11,913,128 |
$4,368,188
$1,066,225 |
$6,478,715 |
| 29 |
$12,508,848 |
$4,588,604
$1,119,542 |
$6,800,702 |
| 30 |
$13,134,248 |
$4,820,002
$1,175,515 |
$7,138,731 |
|
|
