The jackpot for the Powerball draw on Mon Feb 16, 2026, is projected to be $154 Million, with an option for a cash payout of $72.2 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 those living in California, the bright side is you won't have to pay any state taxes on your lottery prize.
| California Powerball Jackpot/Cash Option for Mon Feb 16, 2026 |
|---|
| Draw Date | Mon Feb 16, 2026 | | Projected Jackpot | $154,000,000 | | Cash Value | $72,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,200,000 | | Federal Tax(24%) | $17,328,000 | | Additional Federal Tax | $9,346,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $45,525,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,317,854 |
$817,936
$0 |
$1,499,918 |
| 2 |
$2,433,816 |
$860,842
$0 |
$1,572,974 |
| 3 |
$2,555,476 |
$905,857
$0 |
$1,649,619 |
| 4 |
$2,683,296 |
$953,150
$0 |
$1,730,146 |
| 5 |
$2,817,430 |
$1,002,779
$0 |
$1,814,651 |
| 6 |
$2,958,340 |
$1,054,916
$0 |
$1,903,424 |
| 7 |
$3,106,180 |
$1,109,617
$0 |
$1,996,563 |
| 8 |
$3,261,566 |
$1,167,110
$0 |
$2,094,456 |
| 9 |
$3,424,652 |
$1,227,452
$0 |
$2,197,200 |
| 10 |
$3,595,900 |
$1,290,813
$0 |
$2,305,087 |
| 11 |
$3,775,618 |
$1,357,309
$0 |
$2,418,309 |
| 12 |
$3,964,422 |
$1,427,167
$0 |
$2,537,255 |
| 13 |
$4,162,620 |
$1,500,500
$0 |
$2,662,120 |
| 14 |
$4,370,828 |
$1,577,537
$0 |
$2,793,291 |
| 15 |
$4,589,354 |
$1,658,391
$0 |
$2,930,963 |
| 16 |
$4,818,814 |
$1,743,292
$0 |
$3,075,522 |
| 17 |
$5,059,670 |
$1,832,408
$0 |
$3,227,262 |
| 18 |
$5,312,692 |
$1,926,026
$0 |
$3,386,666 |
| 19 |
$5,578,342 |
$2,024,317
$0 |
$3,554,025 |
| 20 |
$5,857,236 |
$2,127,508
$0 |
$3,729,728 |
| 21 |
$6,150,144 |
$2,235,884
$0 |
$3,914,260 |
| 22 |
$6,457,682 |
$2,349,673
$0 |
$4,108,009 |
| 23 |
$6,780,466 |
$2,469,103
$0 |
$4,311,363 |
| 24 |
$7,119,574 |
$2,594,573
$0 |
$4,525,001 |
| 25 |
$7,475,468 |
$2,726,254
$0 |
$4,749,214 |
| 26 |
$7,849,380 |
$2,864,601
$0 |
$4,984,779 |
| 27 |
$8,241,772 |
$3,009,786
$0 |
$5,231,986 |
| 28 |
$8,653,876 |
$3,162,265
$0 |
$5,491,611 |
| 29 |
$9,086,616 |
$3,322,378
$0 |
$5,764,238 |
| 30 |
$9,540,916 |
$3,490,469
$0 |
$6,050,447 |
|
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