The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 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 Apr 5, 2025 |
|---|
| Draw Date | Sat Apr 5, 2025 | | Projected Jackpot | $47,000,000 | | Cash Value | $21,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,800,000 | | Federal Tax(24%) | $5,232,000 | | Additional Federal Tax | $2,794,330 | | State Tax(8.95%) | $1,951,100 | | Net Lumpsum Payment | $11,822,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$707,397 |
$222,067
$63,312 |
$422,018 |
| 2 |
$742,788 |
$235,162
$66,480 |
$441,146 |
| 3 |
$779,918 |
$248,900
$69,803 |
$461,215 |
| 4 |
$818,928 |
$263,334
$73,294 |
$482,300 |
| 5 |
$859,865 |
$278,480
$76,958 |
$504,427 |
| 6 |
$902,870 |
$294,392
$80,807 |
$527,671 |
| 7 |
$947,990 |
$311,087
$84,845 |
$552,058 |
| 8 |
$995,413 |
$328,633
$89,089 |
$577,691 |
| 9 |
$1,045,186 |
$347,049
$93,544 |
$604,593 |
| 10 |
$1,097,450 |
$366,387
$98,222 |
$632,841 |
| 11 |
$1,152,299 |
$386,681
$103,131 |
$662,487 |
| 12 |
$1,209,921 |
$408,001
$108,288 |
$693,632 |
| 13 |
$1,270,410 |
$430,382
$113,702 |
$726,326 |
| 14 |
$1,333,954 |
$453,893
$119,389 |
$760,672 |
| 15 |
$1,400,647 |
$478,570
$125,358 |
$796,719 |
| 16 |
$1,470,677 |
$504,481
$131,626 |
$834,570 |
| 17 |
$1,544,185 |
$531,679
$138,205 |
$874,301 |
| 18 |
$1,621,406 |
$560,251
$145,116 |
$916,039 |
| 19 |
$1,702,481 |
$590,248
$152,372 |
$959,861 |
| 20 |
$1,787,598 |
$621,742
$159,990 |
$1,005,866 |
| 21 |
$1,876,992 |
$654,817
$167,991 |
$1,054,184 |
| 22 |
$1,970,851 |
$689,545
$176,391 |
$1,104,915 |
| 23 |
$2,069,363 |
$725,995
$185,208 |
$1,158,160 |
| 24 |
$2,172,857 |
$764,287
$194,471 |
$1,214,099 |
| 25 |
$2,281,474 |
$804,476
$204,192 |
$1,272,806 |
| 26 |
$2,395,590 |
$846,699
$214,405 |
$1,334,486 |
| 27 |
$2,515,346 |
$891,008
$225,123 |
$1,399,215 |
| 28 |
$2,641,118 |
$937,544
$236,380 |
$1,467,194 |
| 29 |
$2,773,188 |
$986,410
$248,200 |
$1,538,578 |
| 30 |
$2,911,838 |
$1,037,710
$260,610 |
$1,613,518 |
|
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