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 Massachusetts residents, the state will deduct 5% from your lottery earnings.
| Massachusetts 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(5%) | $8,530,000 | | Net Lumpsum Payment | $98,987,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$282,206 |
$3,313,262 |
| 2 |
$5,926,500 |
$2,153,135
$296,325 |
$3,477,040 |
| 3 |
$6,222,750 |
$2,262,748
$311,138 |
$3,648,864 |
| 4 |
$6,534,000 |
$2,377,910
$326,700 |
$3,829,390 |
| 5 |
$6,860,625 |
$2,498,762
$343,031 |
$4,018,832 |
| 6 |
$7,203,750 |
$2,625,718
$360,188 |
$4,217,844 |
| 7 |
$7,563,750 |
$2,758,918
$378,188 |
$4,426,644 |
| 8 |
$7,942,125 |
$2,898,917
$397,106 |
$4,646,102 |
| 9 |
$8,339,250 |
$3,045,853
$416,963 |
$4,876,434 |
| 10 |
$8,756,250 |
$3,200,143
$437,813 |
$5,118,294 |
| 11 |
$9,193,875 |
$3,362,064
$459,694 |
$5,372,117 |
| 12 |
$9,653,625 |
$3,532,172
$482,681 |
$5,638,772 |
| 13 |
$10,136,250 |
$3,710,743
$506,813 |
$5,918,694 |
| 14 |
$10,643,250 |
$3,898,333
$532,163 |
$6,212,754 |
| 15 |
$11,175,375 |
$4,095,219
$558,769 |
$6,521,387 |
| 16 |
$11,734,125 |
$4,301,957
$586,706 |
$6,845,462 |
| 17 |
$12,320,625 |
$4,518,962
$616,031 |
$7,185,632 |
| 18 |
$12,936,750 |
$4,746,928
$646,838 |
$7,542,984 |
| 19 |
$13,583,625 |
$4,986,272
$679,181 |
$7,918,172 |
| 20 |
$14,262,750 |
$5,237,548
$713,138 |
$8,312,064 |
| 21 |
$14,976,000 |
$5,501,450
$748,800 |
$8,725,750 |
| 22 |
$15,724,875 |
$5,778,534
$786,244 |
$9,160,097 |
| 23 |
$16,510,875 |
$6,069,354
$825,544 |
$9,615,977 |
| 24 |
$17,336,625 |
$6,374,882
$866,831 |
$10,094,912 |
| 25 |
$18,203,250 |
$6,695,533
$910,163 |
$10,597,554 |
| 26 |
$19,113,750 |
$7,032,418
$955,688 |
$11,125,644 |
| 27 |
$20,069,250 |
$7,385,953
$1,003,463 |
$11,679,834 |
| 28 |
$21,072,750 |
$7,757,248
$1,053,638 |
$12,261,864 |
| 29 |
$22,126,500 |
$8,147,135
$1,106,325 |
$12,873,040 |
| 30 |
$23,232,750 |
$8,556,448
$1,161,638 |
$13,514,664 |
|
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