The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina Powerball Jackpot/Cash Option for Mon Feb 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(4.75%) | $1,396,500 | | Net Lumpsum Payment | $17,165,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$46,470 |
$609,538 |
| 2 |
$1,027,260 |
$340,417
$48,795 |
$638,048 |
| 3 |
$1,078,610 |
$359,416
$51,234 |
$667,960 |
| 4 |
$1,132,560 |
$379,378
$53,797 |
$699,385 |
| 5 |
$1,189,175 |
$400,325
$56,486 |
$732,364 |
| 6 |
$1,248,650 |
$422,331
$59,311 |
$767,008 |
| 7 |
$1,311,050 |
$445,419
$62,275 |
$803,356 |
| 8 |
$1,376,635 |
$469,685
$65,390 |
$841,560 |
| 9 |
$1,445,470 |
$495,154
$68,660 |
$881,656 |
| 10 |
$1,517,750 |
$521,898
$72,093 |
$923,759 |
| 11 |
$1,593,605 |
$549,964
$75,696 |
$967,945 |
| 12 |
$1,673,295 |
$579,450
$79,482 |
$1,014,363 |
| 13 |
$1,756,950 |
$610,402
$83,455 |
$1,063,093 |
| 14 |
$1,844,830 |
$642,917
$87,629 |
$1,114,284 |
| 15 |
$1,937,065 |
$677,044
$92,011 |
$1,168,010 |
| 16 |
$2,033,915 |
$712,879
$96,611 |
$1,224,425 |
| 17 |
$2,135,575 |
$750,493
$101,440 |
$1,283,642 |
| 18 |
$2,242,370 |
$790,007
$106,513 |
$1,345,850 |
| 19 |
$2,354,495 |
$831,494
$111,839 |
$1,411,162 |
| 20 |
$2,472,210 |
$875,048
$117,430 |
$1,479,732 |
| 21 |
$2,595,840 |
$920,791
$123,302 |
$1,551,747 |
| 22 |
$2,725,645 |
$968,819
$129,468 |
$1,627,358 |
| 23 |
$2,861,885 |
$1,019,228
$135,940 |
$1,706,717 |
| 24 |
$3,005,015 |
$1,072,186
$142,738 |
$1,790,091 |
| 25 |
$3,155,230 |
$1,127,765
$149,873 |
$1,877,592 |
| 26 |
$3,313,050 |
$1,186,159
$157,370 |
$1,969,521 |
| 27 |
$3,478,670 |
$1,247,438
$165,237 |
$2,065,995 |
| 28 |
$3,652,610 |
$1,311,796
$173,499 |
$2,167,315 |
| 29 |
$3,835,260 |
$1,379,377
$182,175 |
$2,273,708 |
| 30 |
$4,027,010 |
$1,450,324
$191,283 |
$2,385,403 |
|
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