The jackpot for the Powerball draw on Sat Jan 3, 2026, is projected to be $64 Million, with an option for a cash payout of $29.5 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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Sat Jan 3, 2026 |
|---|
| Draw Date | Sat Jan 3, 2026 | | Projected Jackpot | $64,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(8.82%) | $2,601,900 | | Net Lumpsum Payment | $16,022,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$84,960 |
$561,566 |
| 2 |
$1,011,456 |
$334,569
$89,210 |
$587,677 |
| 3 |
$1,062,016 |
$353,276
$93,670 |
$615,070 |
| 4 |
$1,115,136 |
$372,931
$98,355 |
$643,850 |
| 5 |
$1,170,880 |
$393,556
$103,272 |
$674,052 |
| 6 |
$1,229,440 |
$415,223
$108,437 |
$705,780 |
| 7 |
$1,290,880 |
$437,956
$113,856 |
$739,068 |
| 8 |
$1,355,456 |
$461,849
$119,551 |
$774,056 |
| 9 |
$1,423,232 |
$486,926
$125,529 |
$810,777 |
| 10 |
$1,494,400 |
$513,258
$131,806 |
$849,336 |
| 11 |
$1,569,088 |
$540,893
$138,394 |
$889,801 |
| 12 |
$1,647,552 |
$569,925
$145,314 |
$932,313 |
| 13 |
$1,729,920 |
$600,401
$152,579 |
$976,940 |
| 14 |
$1,816,448 |
$632,416
$160,211 |
$1,023,821 |
| 15 |
$1,907,264 |
$666,018
$168,221 |
$1,073,025 |
| 16 |
$2,002,624 |
$701,301
$176,631 |
$1,124,692 |
| 17 |
$2,102,720 |
$738,337
$185,460 |
$1,178,923 |
| 18 |
$2,207,872 |
$777,243
$194,734 |
$1,235,895 |
| 19 |
$2,318,272 |
$818,091
$204,472 |
$1,295,709 |
| 20 |
$2,434,176 |
$860,976
$214,694 |
$1,358,506 |
| 21 |
$2,555,904 |
$906,015
$225,431 |
$1,424,458 |
| 22 |
$2,683,712 |
$953,304
$236,703 |
$1,493,705 |
| 23 |
$2,817,856 |
$1,002,937
$248,535 |
$1,566,384 |
| 24 |
$2,958,784 |
$1,055,080
$260,965 |
$1,642,739 |
| 25 |
$3,106,688 |
$1,109,805
$274,010 |
$1,722,873 |
| 26 |
$3,262,080 |
$1,167,300
$287,715 |
$1,807,065 |
| 27 |
$3,425,152 |
$1,227,637
$302,098 |
$1,895,417 |
| 28 |
$3,596,416 |
$1,291,004
$317,204 |
$1,988,208 |
| 29 |
$3,776,256 |
$1,357,545
$333,066 |
$2,085,645 |
| 30 |
$3,965,056 |
$1,427,401
$349,718 |
$2,187,937 |
|
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