The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 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 Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(8.95%) | $11,133,800 | | Net Lumpsum Payment | $67,277,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$366,402 |
$2,252,407 |
| 2 |
$4,298,688 |
$1,550,845
$384,733 |
$2,363,110 |
| 3 |
$4,513,568 |
$1,630,351
$403,964 |
$2,479,253 |
| 4 |
$4,739,328 |
$1,713,882
$424,170 |
$2,601,276 |
| 5 |
$4,976,240 |
$1,801,539
$445,373 |
$2,729,328 |
| 6 |
$5,225,120 |
$1,893,625
$467,648 |
$2,863,847 |
| 7 |
$5,486,240 |
$1,990,239
$491,018 |
$3,004,983 |
| 8 |
$5,760,688 |
$2,091,785
$515,582 |
$3,153,321 |
| 9 |
$6,048,736 |
$2,198,363
$541,362 |
$3,309,011 |
| 10 |
$6,351,200 |
$2,310,274
$568,432 |
$3,472,494 |
| 11 |
$6,668,624 |
$2,427,721
$596,842 |
$3,644,061 |
| 12 |
$7,002,096 |
$2,551,106
$626,688 |
$3,824,302 |
| 13 |
$7,352,160 |
$2,680,630
$658,018 |
$4,013,512 |
| 14 |
$7,719,904 |
$2,816,695
$690,931 |
$4,212,278 |
| 15 |
$8,105,872 |
$2,959,503
$725,476 |
$4,420,893 |
| 16 |
$8,511,152 |
$3,109,457
$761,748 |
$4,639,947 |
| 17 |
$8,936,560 |
$3,266,858
$799,822 |
$4,869,880 |
| 18 |
$9,383,456 |
$3,432,209
$839,819 |
$5,111,428 |
| 19 |
$9,852,656 |
$3,605,813
$881,813 |
$5,365,030 |
| 20 |
$10,345,248 |
$3,788,072
$925,900 |
$5,631,276 |
| 21 |
$10,862,592 |
$3,979,489
$972,202 |
$5,910,901 |
| 22 |
$11,405,776 |
$4,180,468
$1,020,817 |
$6,204,491 |
| 23 |
$11,975,888 |
$4,391,409
$1,071,842 |
$6,512,637 |
| 24 |
$12,574,832 |
$4,613,018
$1,125,447 |
$6,836,367 |
| 25 |
$13,203,424 |
$4,845,597
$1,181,706 |
$7,176,121 |
| 26 |
$13,863,840 |
$5,089,951
$1,240,814 |
$7,533,075 |
| 27 |
$14,556,896 |
$5,346,382
$1,302,842 |
$7,907,672 |
| 28 |
$15,284,768 |
$5,615,695
$1,367,987 |
$8,301,086 |
| 29 |
$16,049,088 |
$5,898,493
$1,436,393 |
$8,714,202 |
| 30 |
$16,851,488 |
$6,195,381
$1,508,208 |
$9,147,899 |
|
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