The jackpot for the Powerball draw on Sat May 16, 2026, is projected to be $86 Million, with an option for a cash payout of $38.8 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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho Powerball Jackpot/Cash Option for Sat May 16, 2026 |
|---|
| Draw Date | Sat May 16, 2026 | | Projected Jackpot | $86,000,000 | | Cash Value | $38,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $38,800,000 | | Federal Tax(24%) | $9,312,000 | | Additional Federal Tax | $5,004,330 | | State Tax(5.8%) | $2,250,400 | | Net Lumpsum Payment | $22,233,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,294,386 |
$439,253
$75,074 |
$780,059 |
| 2 |
$1,359,144 |
$463,214
$78,830 |
$817,100 |
| 3 |
$1,427,084 |
$488,351
$82,771 |
$855,962 |
| 4 |
$1,498,464 |
$514,762
$86,911 |
$896,791 |
| 5 |
$1,573,370 |
$542,477
$91,255 |
$939,638 |
| 6 |
$1,652,060 |
$571,593
$95,819 |
$984,648 |
| 7 |
$1,734,620 |
$602,140
$100,608 |
$1,031,872 |
| 8 |
$1,821,394 |
$634,246
$105,641 |
$1,081,507 |
| 9 |
$1,912,468 |
$667,944
$110,923 |
$1,133,601 |
| 10 |
$2,008,100 |
$703,327
$116,470 |
$1,188,303 |
| 11 |
$2,108,462 |
$740,461
$122,291 |
$1,245,710 |
| 12 |
$2,213,898 |
$779,473
$128,406 |
$1,306,019 |
| 13 |
$2,324,580 |
$820,425
$134,826 |
$1,369,329 |
| 14 |
$2,440,852 |
$863,446
$141,569 |
$1,435,837 |
| 15 |
$2,562,886 |
$908,598
$148,647 |
$1,505,641 |
| 16 |
$2,691,026 |
$956,010
$156,080 |
$1,578,936 |
| 17 |
$2,825,530 |
$1,005,776
$163,881 |
$1,655,873 |
| 18 |
$2,966,828 |
$1,058,057
$172,076 |
$1,736,695 |
| 19 |
$3,115,178 |
$1,112,946
$180,680 |
$1,821,552 |
| 20 |
$3,270,924 |
$1,170,572
$189,714 |
$1,910,638 |
| 21 |
$3,434,496 |
$1,231,094
$199,201 |
$2,004,201 |
| 22 |
$3,606,238 |
$1,294,638
$209,162 |
$2,102,438 |
| 23 |
$3,786,494 |
$1,361,333
$219,617 |
$2,205,544 |
| 24 |
$3,975,866 |
$1,431,401
$230,600 |
$2,313,865 |
| 25 |
$4,174,612 |
$1,504,937
$242,127 |
$2,427,548 |
| 26 |
$4,383,420 |
$1,582,196
$254,238 |
$2,546,986 |
| 27 |
$4,602,548 |
$1,663,273
$266,948 |
$2,672,327 |
| 28 |
$4,832,684 |
$1,748,423
$280,296 |
$2,803,965 |
| 29 |
$5,074,344 |
$1,837,838
$294,312 |
$2,942,194 |
| 30 |
$5,328,044 |
$1,931,707
$309,027 |
$3,087,310 |
|
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