The jackpot for the Powerball draw on Sat Mar 7, 2026, is projected to be $35 Million, with an option for a cash payout of $16.5 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 Mar 7, 2026 |
|---|
| Draw Date | Sat Mar 7, 2026 | | Projected Jackpot | $35,000,000 | | Cash Value | $16,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $16,500,000 | | Federal Tax(24%) | $3,960,000 | | Additional Federal Tax | $2,105,330 | | State Tax(8.82%) | $1,455,300 | | Net Lumpsum Payment | $8,979,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$526,785 |
$155,241
$46,462 |
$325,082 |
| 2 |
$553,140 |
$164,992
$48,787 |
$339,361 |
| 3 |
$580,790 |
$175,223
$51,226 |
$354,341 |
| 4 |
$609,840 |
$185,971
$53,788 |
$370,081 |
| 5 |
$640,325 |
$197,251
$56,477 |
$386,597 |
| 6 |
$672,350 |
$209,100
$59,301 |
$403,949 |
| 7 |
$705,950 |
$221,532
$62,265 |
$422,153 |
| 8 |
$741,265 |
$234,598
$65,380 |
$441,287 |
| 9 |
$778,330 |
$248,312
$68,649 |
$461,369 |
| 10 |
$817,250 |
$262,713
$72,081 |
$482,456 |
| 11 |
$858,095 |
$277,826
$75,684 |
$504,585 |
| 12 |
$901,005 |
$293,702
$79,469 |
$527,834 |
| 13 |
$946,050 |
$310,369
$83,442 |
$552,239 |
| 14 |
$993,370 |
$327,877
$87,615 |
$577,878 |
| 15 |
$1,043,035 |
$346,253
$91,996 |
$604,786 |
| 16 |
$1,095,185 |
$365,549
$96,595 |
$633,041 |
| 17 |
$1,149,925 |
$385,803
$101,423 |
$662,699 |
| 18 |
$1,207,430 |
$407,079
$106,495 |
$693,856 |
| 19 |
$1,267,805 |
$429,418
$111,820 |
$726,567 |
| 20 |
$1,331,190 |
$452,871
$117,411 |
$760,908 |
| 21 |
$1,397,760 |
$477,502
$123,282 |
$796,976 |
| 22 |
$1,467,655 |
$503,363
$129,447 |
$834,845 |
| 23 |
$1,541,015 |
$530,506
$135,918 |
$874,591 |
| 24 |
$1,618,085 |
$559,022
$142,715 |
$916,348 |
| 25 |
$1,698,970 |
$588,949
$149,849 |
$960,172 |
| 26 |
$1,783,950 |
$620,392
$157,344 |
$1,006,214 |
| 27 |
$1,873,130 |
$653,388
$165,210 |
$1,054,532 |
| 28 |
$1,966,790 |
$688,043
$173,471 |
$1,105,276 |
| 29 |
$2,065,140 |
$724,432
$182,145 |
$1,158,563 |
| 30 |
$2,168,390 |
$762,635
$191,252 |
$1,214,503 |
|
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