The jackpot for the Powerball draw on Wed Sep 30, 2026, is projected to be $409 Million, with an option for a cash payout of $170.2 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Wed Sep 30, 2026 |
|---|
| Draw Date | Wed Sep 30, 2026 | | Projected Jackpot | $409,000,000 | | Cash Value | $170,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,200,000 | | Federal Tax(24%) | $40,848,000 | | Additional Federal Tax | $22,086,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $107,265,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,155,859 |
$2,237,998
$0 |
$3,917,861 |
| 2 |
$6,463,836 |
$2,351,950
$0 |
$4,111,886 |
| 3 |
$6,786,946 |
$2,471,500
$0 |
$4,315,446 |
| 4 |
$7,126,416 |
$2,597,104
$0 |
$4,529,312 |
| 5 |
$7,482,655 |
$2,728,913
$0 |
$4,753,742 |
| 6 |
$7,856,890 |
$2,867,380
$0 |
$4,989,510 |
| 7 |
$8,249,530 |
$3,012,656
$0 |
$5,236,874 |
| 8 |
$8,662,211 |
$3,165,348
$0 |
$5,496,863 |
| 9 |
$9,095,342 |
$3,325,607
$0 |
$5,769,735 |
| 10 |
$9,550,150 |
$3,493,886
$0 |
$6,056,264 |
| 11 |
$10,027,453 |
$3,670,488
$0 |
$6,356,965 |
| 12 |
$10,528,887 |
$3,856,019
$0 |
$6,672,868 |
| 13 |
$11,055,270 |
$4,050,780
$0 |
$7,004,490 |
| 14 |
$11,608,238 |
$4,255,378
$0 |
$7,352,860 |
| 15 |
$12,188,609 |
$4,470,116
$0 |
$7,718,493 |
| 16 |
$12,798,019 |
$4,695,597
$0 |
$8,102,422 |
| 17 |
$13,437,695 |
$4,932,278
$0 |
$8,505,417 |
| 18 |
$14,109,682 |
$5,180,913
$0 |
$8,928,769 |
| 19 |
$14,815,207 |
$5,441,957
$0 |
$9,373,250 |
| 20 |
$15,555,906 |
$5,716,016
$0 |
$9,839,890 |
| 21 |
$16,333,824 |
$6,003,845
$0 |
$10,329,979 |
| 22 |
$17,150,597 |
$6,306,051
$0 |
$10,844,546 |
| 23 |
$18,007,861 |
$6,623,239
$0 |
$11,384,622 |
| 24 |
$18,908,479 |
$6,956,468
$0 |
$11,952,011 |
| 25 |
$19,853,678 |
$7,306,191
$0 |
$12,547,487 |
| 26 |
$20,846,730 |
$7,673,620
$0 |
$13,173,110 |
| 27 |
$21,888,862 |
$8,059,209
$0 |
$13,829,653 |
| 28 |
$22,983,346 |
$8,464,168
$0 |
$14,519,178 |
| 29 |
$24,132,636 |
$8,889,406
$0 |
$15,243,230 |
| 30 |
$25,339,186 |
$9,335,829
$0 |
$16,003,357 |
|
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