The jackpot for the Powerball draw on Wed Jun 25, 2025, is projected to be $140 Million, with an option for a cash payout of $63 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 Jun 25, 2025 |
|---|
| Draw Date | Wed Jun 25, 2025 | | Projected Jackpot | $140,000,000 | | Cash Value | $63,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,000,000 | | Federal Tax(24%) | $15,120,000 | | Additional Federal Tax | $8,150,330 | | State Tax(8.95%) | $5,638,500 | | Net Lumpsum Payment | $34,091,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,107,140 |
$739,972
$188,589 |
$1,178,579 |
| 2 |
$2,212,560 |
$778,978
$198,024 |
$1,235,558 |
| 3 |
$2,323,160 |
$819,900
$207,923 |
$1,295,337 |
| 4 |
$2,439,360 |
$862,894
$218,323 |
$1,358,143 |
| 5 |
$2,561,300 |
$908,011
$229,236 |
$1,424,053 |
| 6 |
$2,689,400 |
$955,408
$240,701 |
$1,493,291 |
| 7 |
$2,823,800 |
$1,005,136
$252,730 |
$1,565,934 |
| 8 |
$2,965,060 |
$1,057,403
$265,373 |
$1,642,284 |
| 9 |
$3,113,320 |
$1,112,259
$278,642 |
$1,722,419 |
| 10 |
$3,269,000 |
$1,169,860
$292,576 |
$1,806,564 |
| 11 |
$3,432,380 |
$1,230,311
$307,198 |
$1,894,871 |
| 12 |
$3,604,020 |
$1,293,818
$322,560 |
$1,987,642 |
| 13 |
$3,784,200 |
$1,360,484
$338,686 |
$2,085,030 |
| 14 |
$3,973,480 |
$1,430,518
$355,626 |
$2,187,336 |
| 15 |
$4,172,140 |
$1,504,022
$373,407 |
$2,294,711 |
| 16 |
$4,380,740 |
$1,581,204
$392,076 |
$2,407,460 |
| 17 |
$4,599,700 |
$1,662,219
$411,673 |
$2,525,808 |
| 18 |
$4,829,720 |
$1,747,327
$432,260 |
$2,650,133 |
| 19 |
$5,071,220 |
$1,836,682
$453,874 |
$2,780,664 |
| 20 |
$5,324,760 |
$1,930,492
$476,566 |
$2,917,702 |
| 21 |
$5,591,040 |
$2,029,015
$500,398 |
$3,061,627 |
| 22 |
$5,870,620 |
$2,132,460
$525,420 |
$3,212,740 |
| 23 |
$6,164,060 |
$2,241,033
$551,683 |
$3,371,344 |
| 24 |
$6,472,340 |
$2,355,096
$579,274 |
$3,537,970 |
| 25 |
$6,795,880 |
$2,474,806
$608,231 |
$3,712,843 |
| 26 |
$7,135,800 |
$2,600,576
$638,654 |
$3,896,570 |
| 27 |
$7,492,520 |
$2,732,563
$670,581 |
$4,089,376 |
| 28 |
$7,867,160 |
$2,871,180
$704,111 |
$4,291,869 |
| 29 |
$8,260,560 |
$3,016,738
$739,320 |
$4,504,502 |
| 30 |
$8,673,560 |
$3,169,548
$776,284 |
$4,727,728 |
|
|
