The jackpot for the Powerball draw on Mon Jul 20, 2026, is projected to be $544 Million, with an option for a cash payout of $241.6 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 Jul 20, 2026 |
|---|
| Draw Date | Mon Jul 20, 2026 | | Projected Jackpot | $544,000,000 | | Cash Value | $241,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,600,000 | | Federal Tax(24%) | $57,984,000 | | Additional Federal Tax | $31,368,330 | | State Tax(8.95%) | $21,623,200 | | Net Lumpsum Payment | $130,624,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,187,744 |
$2,989,796
$732,803 |
$4,465,145 |
| 2 |
$8,597,376 |
$3,141,360
$769,465 |
$4,686,551 |
| 3 |
$9,027,136 |
$3,300,371
$807,929 |
$4,918,836 |
| 4 |
$9,478,656 |
$3,467,433
$848,340 |
$5,162,883 |
| 5 |
$9,952,480 |
$3,642,748
$890,747 |
$5,418,985 |
| 6 |
$10,450,240 |
$3,826,919
$935,296 |
$5,688,025 |
| 7 |
$10,972,480 |
$4,020,148
$982,037 |
$5,970,295 |
| 8 |
$11,521,376 |
$4,223,240
$1,031,163 |
$6,266,973 |
| 9 |
$12,097,472 |
$4,436,395
$1,082,724 |
$6,578,353 |
| 10 |
$12,702,400 |
$4,660,218
$1,136,865 |
$6,905,317 |
| 11 |
$13,337,248 |
$4,895,112
$1,193,684 |
$7,248,452 |
| 12 |
$14,004,192 |
$5,141,881
$1,253,375 |
$7,608,936 |
| 13 |
$14,704,320 |
$5,400,929
$1,316,037 |
$7,987,354 |
| 14 |
$15,439,808 |
$5,673,059
$1,381,863 |
$8,384,886 |
| 15 |
$16,211,744 |
$5,958,676
$1,450,951 |
$8,802,117 |
| 16 |
$17,022,304 |
$6,258,583
$1,523,496 |
$9,240,225 |
| 17 |
$17,873,120 |
$6,573,385
$1,599,644 |
$9,700,091 |
| 18 |
$18,766,912 |
$6,904,088
$1,679,639 |
$10,183,185 |
| 19 |
$19,705,312 |
$7,251,296
$1,763,625 |
$10,690,391 |
| 20 |
$20,690,496 |
$7,615,814
$1,851,799 |
$11,222,883 |
| 21 |
$21,725,184 |
$7,998,648
$1,944,404 |
$11,782,132 |
| 22 |
$22,811,552 |
$8,400,605
$2,041,634 |
$12,369,313 |
| 23 |
$23,951,776 |
$8,822,488
$2,143,684 |
$12,985,604 |
| 24 |
$25,149,664 |
$9,265,706
$2,250,895 |
$13,633,063 |
| 25 |
$26,406,848 |
$9,730,864
$2,363,413 |
$14,312,571 |
| 26 |
$27,727,680 |
$10,219,572
$2,481,627 |
$15,026,481 |
| 27 |
$29,113,792 |
$10,732,433
$2,605,684 |
$15,775,675 |
| 28 |
$30,569,536 |
$11,271,059
$2,735,973 |
$16,562,504 |
| 29 |
$32,098,176 |
$11,836,656
$2,872,787 |
$17,388,733 |
| 30 |
$33,702,976 |
$12,430,432
$3,016,416 |
$18,256,128 |
|
|
