The jackpot for the Powerball draw on Sat May 23, 2026, is projected to be $131 Million, with an option for a cash payout of $57.5 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 May 23, 2026 |
|---|
| Draw Date | Sat May 23, 2026 | | Projected Jackpot | $131,000,000 | | Cash Value | $57,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,500,000 | | Federal Tax(24%) | $13,800,000 | | Additional Federal Tax | $7,435,330 | | State Tax(8.95%) | $5,146,250 | | Net Lumpsum Payment | $31,118,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$176,465 |
$1,105,364 |
| 2 |
$2,070,324 |
$726,350
$185,294 |
$1,158,680 |
| 3 |
$2,173,814 |
$764,642
$194,556 |
$1,214,616 |
| 4 |
$2,282,544 |
$804,872
$204,288 |
$1,273,384 |
| 5 |
$2,396,645 |
$847,089
$214,500 |
$1,335,056 |
| 6 |
$2,516,510 |
$891,439
$225,228 |
$1,399,843 |
| 7 |
$2,642,270 |
$937,970
$236,483 |
$1,467,817 |
| 8 |
$2,774,449 |
$986,877
$248,313 |
$1,539,259 |
| 9 |
$2,913,178 |
$1,038,206
$260,729 |
$1,614,243 |
| 10 |
$3,058,850 |
$1,092,105
$273,767 |
$1,692,978 |
| 11 |
$3,211,727 |
$1,148,669
$287,450 |
$1,775,608 |
| 12 |
$3,372,333 |
$1,208,094
$301,824 |
$1,862,415 |
| 13 |
$3,540,930 |
$1,270,474
$316,913 |
$1,953,543 |
| 14 |
$3,718,042 |
$1,336,006
$332,765 |
$2,049,271 |
| 15 |
$3,903,931 |
$1,404,785
$349,402 |
$2,149,744 |
| 16 |
$4,099,121 |
$1,477,005
$366,871 |
$2,255,245 |
| 17 |
$4,304,005 |
$1,552,812
$385,208 |
$2,365,985 |
| 18 |
$4,519,238 |
$1,632,448
$404,472 |
$2,482,318 |
| 19 |
$4,745,213 |
$1,716,059
$424,697 |
$2,604,457 |
| 20 |
$4,982,454 |
$1,803,838
$445,930 |
$2,732,686 |
| 21 |
$5,231,616 |
$1,896,028
$468,230 |
$2,867,358 |
| 22 |
$5,493,223 |
$1,992,823
$491,643 |
$3,008,757 |
| 23 |
$5,767,799 |
$2,094,416
$516,218 |
$3,157,165 |
| 24 |
$6,056,261 |
$2,201,147
$542,035 |
$3,313,079 |
| 25 |
$6,359,002 |
$2,313,161
$569,131 |
$3,476,710 |
| 26 |
$6,677,070 |
$2,430,846
$597,598 |
$3,648,626 |
| 27 |
$7,010,858 |
$2,554,348
$627,472 |
$3,829,038 |
| 28 |
$7,361,414 |
$2,684,054
$658,847 |
$4,018,513 |
| 29 |
$7,729,524 |
$2,820,254
$691,792 |
$4,217,478 |
| 30 |
$8,115,974 |
$2,963,241
$726,380 |
$4,426,353 |
|
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