The jackpot for the Powerball draw on Wed Feb 11, 2026, is projected to be $126 Million, with an option for a cash payout of $57.8 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Wed Feb 11, 2026 |
|---|
| Draw Date | Wed Feb 11, 2026 | | Projected Jackpot | $126,000,000 | | Cash Value | $57,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,800,000 | | Federal Tax(24%) | $13,872,000 | | Additional Federal Tax | $7,474,330 | | State Tax(4.25%) | $2,456,500 | | Net Lumpsum Payment | $33,997,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,896,426 |
$662,008
$80,598 |
$1,153,820 |
| 2 |
$1,991,304 |
$697,113
$84,630 |
$1,209,561 |
| 3 |
$2,090,844 |
$733,943
$88,861 |
$1,268,040 |
| 4 |
$2,195,424 |
$772,637
$93,306 |
$1,329,481 |
| 5 |
$2,305,170 |
$813,243
$97,970 |
$1,393,957 |
| 6 |
$2,420,460 |
$855,901
$102,870 |
$1,461,689 |
| 7 |
$2,541,420 |
$900,656
$108,010 |
$1,532,754 |
| 8 |
$2,668,554 |
$947,695
$113,414 |
$1,607,445 |
| 9 |
$2,801,988 |
$997,066
$119,084 |
$1,685,838 |
| 10 |
$2,942,100 |
$1,048,907
$125,039 |
$1,768,154 |
| 11 |
$3,089,142 |
$1,103,313
$131,289 |
$1,854,540 |
| 12 |
$3,243,618 |
$1,160,469
$137,854 |
$1,945,295 |
| 13 |
$3,405,780 |
$1,220,469
$144,746 |
$2,040,565 |
| 14 |
$3,576,132 |
$1,283,499
$151,986 |
$2,140,647 |
| 15 |
$3,754,926 |
$1,349,653
$159,584 |
$2,245,689 |
| 16 |
$3,942,666 |
$1,419,117
$167,563 |
$2,355,986 |
| 17 |
$4,139,730 |
$1,492,030
$175,939 |
$2,471,761 |
| 18 |
$4,346,748 |
$1,568,627
$184,737 |
$2,593,384 |
| 19 |
$4,564,098 |
$1,649,047
$193,974 |
$2,721,077 |
| 20 |
$4,792,284 |
$1,733,475
$203,672 |
$2,855,137 |
| 21 |
$5,031,936 |
$1,822,147
$213,857 |
$2,995,932 |
| 22 |
$5,283,558 |
$1,915,247
$224,551 |
$3,143,760 |
| 23 |
$5,547,654 |
$2,012,962
$235,775 |
$3,298,917 |
| 24 |
$5,825,106 |
$2,115,620
$247,567 |
$3,461,919 |
| 25 |
$6,116,292 |
$2,223,358
$259,942 |
$3,632,992 |
| 26 |
$6,422,220 |
$2,336,552
$272,944 |
$3,812,724 |
| 27 |
$6,743,268 |
$2,455,340
$286,589 |
$4,001,339 |
| 28 |
$7,080,444 |
$2,580,095
$300,919 |
$4,199,430 |
| 29 |
$7,434,504 |
$2,711,097
$315,966 |
$4,407,441 |
| 30 |
$7,806,204 |
$2,848,626
$331,764 |
$4,625,814 |
|
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