The jackpot for the Powerball draw on Wed Jan 21, 2026, is projected to be $209 Million, with an option for a cash payout of $95.2 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 Jan 21, 2026 |
|---|
| Draw Date | Wed Jan 21, 2026 | | Projected Jackpot | $209,000,000 | | Cash Value | $95,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $95,200,000 | | Federal Tax(24%) | $22,848,000 | | Additional Federal Tax | $12,336,330 | | State Tax(8.95%) | $8,520,400 | | Net Lumpsum Payment | $51,495,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,145,659 |
$1,124,224
$281,536 |
$1,739,899 |
| 2 |
$3,303,036 |
$1,182,454
$295,622 |
$1,824,960 |
| 3 |
$3,468,146 |
$1,243,544
$310,399 |
$1,914,203 |
| 4 |
$3,641,616 |
$1,307,728
$325,925 |
$2,007,963 |
| 5 |
$3,823,655 |
$1,375,083
$342,217 |
$2,106,355 |
| 6 |
$4,014,890 |
$1,445,840
$359,333 |
$2,209,717 |
| 7 |
$4,215,530 |
$1,520,076
$377,290 |
$2,318,164 |
| 8 |
$4,426,411 |
$1,598,102
$396,164 |
$2,432,145 |
| 9 |
$4,647,742 |
$1,679,995
$415,973 |
$2,551,774 |
| 10 |
$4,880,150 |
$1,765,986
$436,773 |
$2,677,391 |
| 11 |
$5,124,053 |
$1,856,230
$458,603 |
$2,809,220 |
| 12 |
$5,380,287 |
$1,951,037
$481,536 |
$2,947,714 |
| 13 |
$5,649,270 |
$2,050,560
$505,610 |
$3,093,100 |
| 14 |
$5,931,838 |
$2,155,110
$530,900 |
$3,245,828 |
| 15 |
$6,228,409 |
$2,264,842
$557,443 |
$3,406,124 |
| 16 |
$6,539,819 |
$2,380,063
$585,314 |
$3,574,442 |
| 17 |
$6,866,695 |
$2,501,008
$614,569 |
$3,751,118 |
| 18 |
$7,210,082 |
$2,628,061
$645,302 |
$3,936,719 |
| 19 |
$7,570,607 |
$2,761,455
$677,569 |
$4,131,583 |
| 20 |
$7,949,106 |
$2,901,500
$711,445 |
$4,336,161 |
| 21 |
$8,346,624 |
$3,048,581
$747,023 |
$4,551,020 |
| 22 |
$8,763,997 |
$3,203,009
$784,378 |
$4,776,610 |
| 23 |
$9,202,061 |
$3,365,093
$823,584 |
$5,013,384 |
| 24 |
$9,662,279 |
$3,535,374
$864,774 |
$5,262,131 |
| 25 |
$10,145,278 |
$3,714,083
$908,002 |
$5,523,193 |
| 26 |
$10,652,730 |
$3,901,840
$953,419 |
$5,797,471 |
| 27 |
$11,185,262 |
$4,098,877
$1,001,081 |
$6,085,304 |
| 28 |
$11,744,546 |
$4,305,812
$1,051,137 |
$6,387,597 |
| 29 |
$12,331,836 |
$4,523,110
$1,103,699 |
$6,705,027 |
| 30 |
$12,948,386 |
$4,751,233
$1,158,881 |
$7,038,272 |
|
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