The jackpot for the Powerball draw on Sat Jun 27, 2026, is projected to be $348 Million, with an option for a cash payout of $157.5 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 27, 2026 |
|---|
| Draw Date | Sat Jun 27, 2026 | | Projected Jackpot | $348,000,000 | | Cash Value | $157,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $157,500,000 | | Federal Tax(24%) | $37,800,000 | | Additional Federal Tax | $20,435,330 | | State Tax(8.95%) | $14,096,250 | | Net Lumpsum Payment | $85,168,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,237,748 |
$1,898,297
$468,778 |
$2,870,673 |
| 2 |
$5,499,792 |
$1,995,253
$492,231 |
$3,012,308 |
| 3 |
$5,774,712 |
$2,096,974
$516,837 |
$3,160,901 |
| 4 |
$6,063,552 |
$2,203,845
$542,688 |
$3,317,019 |
| 5 |
$6,366,660 |
$2,315,995
$569,816 |
$3,480,849 |
| 6 |
$6,685,080 |
$2,433,810
$598,315 |
$3,652,955 |
| 7 |
$7,019,160 |
$2,557,420
$628,215 |
$3,833,525 |
| 8 |
$7,370,292 |
$2,687,338
$659,641 |
$4,023,313 |
| 9 |
$7,738,824 |
$2,823,695
$692,625 |
$4,222,504 |
| 10 |
$8,125,800 |
$2,966,876
$727,259 |
$4,431,665 |
| 11 |
$8,531,916 |
$3,117,139
$763,606 |
$4,651,171 |
| 12 |
$8,958,564 |
$3,274,999
$801,791 |
$4,881,774 |
| 13 |
$9,406,440 |
$3,440,713
$841,876 |
$5,123,851 |
| 14 |
$9,876,936 |
$3,614,797
$883,986 |
$5,378,153 |
| 15 |
$10,370,748 |
$3,797,507
$928,182 |
$5,645,059 |
| 16 |
$10,889,268 |
$3,989,360
$974,589 |
$5,925,319 |
| 17 |
$11,433,540 |
$4,190,740
$1,023,302 |
$6,219,498 |
| 18 |
$12,005,304 |
$4,402,293
$1,074,475 |
$6,528,536 |
| 19 |
$12,605,604 |
$4,624,404
$1,128,202 |
$6,852,998 |
| 20 |
$13,235,832 |
$4,857,588
$1,184,607 |
$7,193,637 |
| 21 |
$13,897,728 |
$5,102,490
$1,243,847 |
$7,551,391 |
| 22 |
$14,592,684 |
$5,359,623
$1,306,045 |
$7,927,016 |
| 23 |
$15,322,092 |
$5,629,504
$1,371,327 |
$8,321,261 |
| 24 |
$16,088,388 |
$5,913,034
$1,439,911 |
$8,735,443 |
| 25 |
$16,892,616 |
$6,210,598
$1,511,889 |
$9,170,129 |
| 26 |
$17,737,560 |
$6,523,228
$1,587,512 |
$9,626,820 |
| 27 |
$18,624,264 |
$6,851,308
$1,666,872 |
$10,106,084 |
| 28 |
$19,555,512 |
$7,195,870
$1,750,218 |
$10,609,424 |
| 29 |
$20,533,392 |
$7,557,685
$1,837,739 |
$11,137,968 |
| 30 |
$21,559,992 |
$7,937,527
$1,929,619 |
$11,692,846 |
|
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