Powerball Jackpot Analysis: What the Jackpot Pays After Taxes
The Powerball jackpot for the October 17, 2026 drawing was $586,000,000, with an official cash value of $247,000,000.
Our data holds Powerball's jackpot for each completed drawing, not the advertised estimate for the next one — enter the amount shown on powerball.com to analyze the current jackpot.
The analysis below uses a jackpot of $27,000,000 (your value) and a cash value of $11,380,546 (estimated at 42.2% of the jackpot, the most recent official cash-to-annuity ratio we hold).
The analysis shows what a single winner would keep after federal and state taxes, as a lump sum or as the 30-year annuity, in every state that sells Powerball tickets.
Figures below use a jackpot of $27,000,000 your value and a cash value of $11,380,546 estimated.
The jackpot is an amount you entered, not an official lottery figure.
The cash value is an estimate — 42.2% of the jackpot, the most recent official cash-to-annuity ratio we hold.
Cash option, net
$7.2M
$7,211,556
from an estimated cash value
Annuity total, net (30 years)
$18.2M
$18,244,306
from your jackpot
First annuity payment, net
$293,778
$293,778
from your jackpot
Federal taxes only · single filer
Lump Sum vs. Annuity for a $27.0M Jackpot
| Lump sum | Annuity (30 payments) | |
|---|---|---|
| Advertised amount | $27,000,000 | $27,000,000 |
| Cash value (estimated) / Total of 30 payments (your value) | $11,380,546 | $27,000,000 |
| Federal withholding (24%) | $2,731,331 | $6,480,000 |
| Additional federal tax due at filing | $1,437,659 | $2,275,694 |
| Total federal tax | $4,168,990 | $8,755,694 |
| State tax (none selected) | $0 | $0 |
| Net | $7,211,556 | $18,244,306 |
Net Payout by State
These are the same flat state rates our tax calculator uses, applied to the Powerball cash value and annuity at the amount above; each state's own page has the full worked example.
| State | State Rate | Lump Sum, Net* | Annuity, Net Total | First Payment, Net |
|---|---|---|---|---|
| Arizona | 4.54% | $6.7M | $17.0M | $275,328 |
| Arkansas | 4.40% | $6.7M | $17.1M | $275,897 |
| California | No state tax | $7.2M | $18.2M | $293,778 |
| Colorado | 4.40% | $6.7M | $17.1M | $275,897 |
| Connecticut | 6.99% | $6.4M | $16.4M | $265,371 |
| Delaware | 6.60% | $6.5M | $16.5M | $266,956 |
| District of Columbia | 10.75% | $6.0M | $15.3M | $250,091 |
| Florida | No state tax | $7.2M | $18.2M | $293,778 |
| Georgia | 5.49% | $6.6M | $16.8M | $271,467 |
| Idaho | 5.80% | $6.6M | $16.7M | $270,207 |
| Illinois | 4.95% | $6.6M | $16.9M | $273,662 |
| Indiana | 3.05% | $6.9M | $17.4M | $281,383 |
| Iowa | 6.00% | $6.5M | $16.6M | $269,395 |
| Kansas | 5.70% | $6.6M | $16.7M | $270,614 |
| Kentucky | 4.00% | $6.8M | $17.2M | $277,522 |
| Louisiana | 4.25% | $6.7M | $17.1M | $276,506 |
| Maine | 7.15% | $6.4M | $16.3M | $264,721 |
| Maryland | 8.75% | $6.2M | $15.9M | $258,219 |
| Massachusetts | 5.00% | $6.6M | $16.9M | $273,458 |
| Michigan | 4.25% | $6.7M | $17.1M | $276,506 |
| Minnesota | 9.85% | $6.1M | $15.6M | $253,749 |
| Mississippi | 5.00% | $6.6M | $16.9M | $273,458 |
| Missouri | 4.80% | $6.7M | $16.9M | $274,271 |
| Montana | 5.90% | $6.5M | $16.7M | $269,801 |
| Nebraska | 6.64% | $6.5M | $16.5M | $266,794 |
| New Hampshire | No state tax | $7.2M | $18.2M | $293,778 |
| New Jersey | 10.75% | $6.0M | $15.3M | $250,091 |
| New Mexico | 5.90% | $6.5M | $16.7M | $269,801 |
| New York | 10.90% | $6.0M | $15.3M | $249,482 |
| North Carolina | 4.50% | $6.7M | $17.0M | $275,490 |
| North Dakota | 2.25% | $7.0M | $17.6M | $284,634 |
| Ohio | 4.00% | $6.8M | $17.2M | $277,522 |
| Oklahoma | 4.75% | $6.7M | $17.0M | $274,474 |
| Oregon | 9.90% | $6.1M | $15.6M | $253,545 |
| Pennsylvania | 3.07% | $6.9M | $17.4M | $281,302 |
| Rhode Island | 5.99% | $6.5M | $16.6M | $269,435 |
| South Carolina | 6.40% | $6.5M | $16.5M | $267,769 |
| South Dakota | No state tax | $7.2M | $18.2M | $293,778 |
| Tennessee | No state tax | $7.2M | $18.2M | $293,778 |
| Texas | No state tax | $7.2M | $18.2M | $293,778 |
| Vermont | 8.75% | $6.2M | $15.9M | $258,219 |
| Virginia | 5.75% | $6.6M | $16.7M | $270,411 |
| Washington | No state tax | $7.2M | $18.2M | $293,778 |
| West Virginia | 6.50% | $6.5M | $16.5M | $267,363 |
| Wisconsin | 7.65% | $6.3M | $16.2M | $262,689 |
| Wyoming | No state tax | $7.2M | $18.2M | $293,778 |
* Lump-sum figures use the estimated cash value of $11,380,546 (42.2% of the jackpot); annuity figures use your jackpot of $27,000,000.
California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming charge no state tax on lottery prizes (federal tax still applies).
Puerto Rico sells Powerball tickets under its own tax rules, not a state rate — see the Puerto Rico page for the math.
30-Year Annuity Payment Schedule
Powerball's annuity pays one immediate payment followed by 29 annual payments that increase by 5% each year, per the official rules.
Federal tax is computed on each payment in the year it is paid; no state tax is applied (none selected). Payments are computed from your jackpot of $27,000,000.
| Year | Gross Payment | Federal Tax | State Tax | Net Payment |
|---|---|---|---|---|
| 1 | $406,389 | $112,611 | $0 | $293,778 |
| 2 | $426,708 | $119,723 | $0 | $306,986 |
| 3 | $448,044 | $127,190 | $0 | $320,854 |
| 4 | $470,446 | $135,031 | $0 | $335,415 |
| 5 | $493,968 | $143,264 | $0 | $350,704 |
| 6 | $518,666 | $151,908 | $0 | $366,758 |
| 7 | $544,600 | $160,985 | $0 | $383,615 |
| 8 | $571,830 | $170,515 | $0 | $401,315 |
| 9 | $600,421 | $180,522 | $0 | $419,899 |
| 10 | $630,442 | $191,451 | $0 | $438,991 |
| 11 | $661,964 | $203,115 | $0 | $458,850 |
| 12 | $695,063 | $215,361 | $0 | $479,702 |
| 13 | $729,816 | $228,220 | $0 | $501,596 |
| 14 | $766,307 | $241,721 | $0 | $524,585 |
| 15 | $804,622 | $255,898 | $0 | $548,724 |
| 16 | $844,853 | $270,783 | $0 | $574,070 |
| 17 | $887,096 | $286,413 | $0 | $600,683 |
| 18 | $931,450 | $302,824 | $0 | $628,626 |
| 19 | $978,023 | $320,056 | $0 | $657,967 |
| 20 | $1,026,924 | $338,150 | $0 | $688,774 |
| 21 | $1,078,270 | $357,148 | $0 | $721,123 |
| 22 | $1,132,184 | $377,096 | $0 | $755,088 |
| 23 | $1,188,793 | $398,041 | $0 | $790,752 |
| 24 | $1,248,233 | $420,034 | $0 | $828,199 |
| 25 | $1,310,644 | $443,126 | $0 | $867,518 |
| 26 | $1,376,177 | $467,373 | $0 | $908,803 |
| 27 | $1,444,985 | $492,832 | $0 | $952,153 |
| 28 | $1,517,235 | $519,565 | $0 | $997,670 |
| 29 | $1,593,096 | $547,633 | $0 | $1,045,463 |
| 30 | $1,672,751 | $577,106 | $0 | $1,095,645 |
| Total | $27,000,000 | $8,755,694 | $0 | $18,244,306 |
How This Analysis Works
- The jackpot figure comes from the powerball.com result page for the latest drawing. Powerball's jackpot starts at $20 million and rises by a minimum of $2 million each drawing without a winner, per the official rule. Our data holds Powerball's jackpot for each completed drawing, not the advertised estimate for the next one — enter the amount shown on powerball.com to analyze the current jackpot.
- The cash value is "the amount of money required to be in the jackpot prize pool, on the day of the drawing, to fund the estimated jackpot annuity prize." When we don't hold an official figure for the current jackpot, we estimate it using the most recent official cash-to-annuity ratio we hold.
- The annuity pays one immediate payment followed by 29 annual payments, each 5% bigger than the one before, summing to the full advertised amount.
- Federal tax uses the same single-filer federal tax brackets as our tax calculator, applied to each payment (or the cash option) as if it were the winner's only income that year; 24% is withheld at claim and the difference from the final tax is settled when the winner files — more due, or a refund.
- State tax is the flat rate from our state tax table for the state where the ticket was bought; the winner's home state may also tax the prize if it is a different state.
- These figures include no deductions, credits, or other income — just the prize itself, rounded to the nearest whole dollar.
- This is an estimate, not tax advice; consult a qualified tax professional.
Frequently Asked Questions
Lump sum or annuity: which pays more after taxes?
At this jackpot, the lump sum nets $7,211,556 (based on an estimated cash value) after taxes and the annuity nets $18,244,306 (based on your jackpot) in total over 30 years. Which one pays "more" depends on investment returns and future tax rates, not just these totals — this is not investment or tax advice.
How much federal tax is taken from a Powerball jackpot?
The lottery withholds 24% at claim; the final federal tax depends on the bracket the prize lands in. For this page's cash option it comes to $4,168,990 (based on an estimated cash value); $2,731,331 is withheld at claim, so the winner owes $1,437,659 more when filing.
Which states charge no state tax on lottery prizes?
California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming charge no state tax on lottery prizes — federal tax still applies in every one of them.
Why is the cash value so much lower than the advertised jackpot?
Powerball's cash value is "the amount of money required to be in the jackpot prize pool, on the day of the drawing, to fund the estimated jackpot annuity prize" — the advertised jackpot is what that smaller pool grows into over 29 annual payments that each increase by 5%.
Where do these jackpot figures come from?
The jackpot analysed on this page is an amount you entered, and the cash value is an estimate; the Powerball figures come from the official powerball.com result page for the latest drawing, updated after each drawing.
Where to Go Next
- Lottery tax calculator — try another jackpot size or state.
- Powerball analysis — draw frequencies and statistics.
- Powerball jackpot winners — past winning drawings and their numbers.
- Powerball results — every drawing's winning numbers.
- Odds calculator — how unlikely it actually is to owe any of this.
- Mega Millions jackpot analysis.
Disclaimer: This page provides estimates only, not tax advice. Actual tax liability depends on your complete financial situation, deductions, filing status, and the tax law in effect when you file; consult a qualified tax professional for guidance specific to your situation.