The jackpot for the Powerball draw on Wed Jul 1, 2026, is projected to be $375 Million, with an option for a cash payout of $170.6 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Wed Jul 1, 2026 |
|---|
| Draw Date | Wed Jul 1, 2026 | | Projected Jackpot | $375,000,000 | | Cash Value | $170,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,600,000 | | Federal Tax(24%) | $40,944,000 | | Additional Federal Tax | $22,138,330 | | State Tax(3.15%) | $5,373,900 | | Net Lumpsum Payment | $102,143,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$177,790 |
$3,417,678 |
| 2 |
$5,926,500 |
$2,153,135
$186,685 |
$3,586,680 |
| 3 |
$6,222,750 |
$2,262,748
$196,017 |
$3,763,985 |
| 4 |
$6,534,000 |
$2,377,910
$205,821 |
$3,950,269 |
| 5 |
$6,860,625 |
$2,498,762
$216,110 |
$4,145,753 |
| 6 |
$7,203,750 |
$2,625,718
$226,918 |
$4,351,114 |
| 7 |
$7,563,750 |
$2,758,918
$238,258 |
$4,566,574 |
| 8 |
$7,942,125 |
$2,898,917
$250,177 |
$4,793,031 |
| 9 |
$8,339,250 |
$3,045,853
$262,686 |
$5,030,711 |
| 10 |
$8,756,250 |
$3,200,143
$275,822 |
$5,280,285 |
| 11 |
$9,193,875 |
$3,362,064
$289,607 |
$5,542,204 |
| 12 |
$9,653,625 |
$3,532,172
$304,089 |
$5,817,364 |
| 13 |
$10,136,250 |
$3,710,743
$319,292 |
$6,106,215 |
| 14 |
$10,643,250 |
$3,898,333
$335,262 |
$6,409,655 |
| 15 |
$11,175,375 |
$4,095,219
$352,024 |
$6,728,132 |
| 16 |
$11,734,125 |
$4,301,957
$369,625 |
$7,062,543 |
| 17 |
$12,320,625 |
$4,518,962
$388,100 |
$7,413,563 |
| 18 |
$12,936,750 |
$4,746,928
$407,508 |
$7,782,314 |
| 19 |
$13,583,625 |
$4,986,272
$427,884 |
$8,169,469 |
| 20 |
$14,262,750 |
$5,237,548
$449,277 |
$8,575,925 |
| 21 |
$14,976,000 |
$5,501,450
$471,744 |
$9,002,806 |
| 22 |
$15,724,875 |
$5,778,534
$495,334 |
$9,451,007 |
| 23 |
$16,510,875 |
$6,069,354
$520,093 |
$9,921,428 |
| 24 |
$17,336,625 |
$6,374,882
$546,104 |
$10,415,639 |
| 25 |
$18,203,250 |
$6,695,533
$573,402 |
$10,934,315 |
| 26 |
$19,113,750 |
$7,032,418
$602,083 |
$11,479,249 |
| 27 |
$20,069,250 |
$7,385,953
$632,181 |
$12,051,116 |
| 28 |
$21,072,750 |
$7,757,248
$663,792 |
$12,651,710 |
| 29 |
$22,126,500 |
$8,147,135
$696,985 |
$13,282,380 |
| 30 |
$23,232,750 |
$8,556,448
$731,832 |
$13,944,470 |
|
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