The jackpot for the Powerball draw on Mon Aug 3, 2026, is projected to be $748 Million, with an option for a cash payout of $325.1 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 Mon Aug 3, 2026 |
|---|
| Draw Date | Mon Aug 3, 2026 | | Projected Jackpot | $748,000,000 | | Cash Value | $325,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $325,100,000 | | Federal Tax(24%) | $78,024,000 | | Additional Federal Tax | $42,223,330 | | State Tax(8.82%) | $28,673,820 | | Net Lumpsum Payment | $176,178,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,258,148 |
$4,125,845
$992,969 |
$6,139,334 |
| 2 |
$11,821,392 |
$4,334,245
$1,042,647 |
$6,444,500 |
| 3 |
$12,412,312 |
$4,552,886
$1,094,766 |
$6,764,660 |
| 4 |
$13,033,152 |
$4,782,597
$1,149,524 |
$7,101,031 |
| 5 |
$13,684,660 |
$5,023,655
$1,206,987 |
$7,454,018 |
| 6 |
$14,369,080 |
$5,276,890
$1,267,353 |
$7,824,837 |
| 7 |
$15,087,160 |
$5,542,580
$1,330,688 |
$8,213,892 |
| 8 |
$15,841,892 |
$5,821,830
$1,397,255 |
$8,622,807 |
| 9 |
$16,634,024 |
$6,114,919
$1,467,121 |
$9,051,984 |
| 10 |
$17,465,800 |
$6,422,676
$1,540,484 |
$9,502,640 |
| 11 |
$18,338,716 |
$6,745,655
$1,617,475 |
$9,975,586 |
| 12 |
$19,255,764 |
$7,084,963
$1,698,358 |
$10,472,443 |
| 13 |
$20,218,440 |
$7,441,153
$1,783,266 |
$10,994,021 |
| 14 |
$21,229,736 |
$7,815,333
$1,872,463 |
$11,541,940 |
| 15 |
$22,291,148 |
$8,208,055
$1,966,079 |
$12,117,014 |
| 16 |
$23,405,668 |
$8,620,428
$2,064,380 |
$12,720,860 |
| 17 |
$24,575,540 |
$9,053,280
$2,167,563 |
$13,354,697 |
| 18 |
$25,804,504 |
$9,507,997
$2,275,957 |
$14,020,550 |
| 19 |
$27,094,804 |
$9,985,408
$2,389,762 |
$14,719,634 |
| 20 |
$28,449,432 |
$10,486,620
$2,509,240 |
$15,453,572 |
| 21 |
$29,872,128 |
$11,013,018
$2,634,722 |
$16,224,388 |
| 22 |
$31,365,884 |
$11,565,707
$2,766,471 |
$17,033,706 |
| 23 |
$32,933,692 |
$12,145,796
$2,904,752 |
$17,883,144 |
| 24 |
$34,580,788 |
$12,755,222
$3,050,026 |
$18,775,540 |
| 25 |
$36,309,416 |
$13,394,814
$3,202,490 |
$19,712,112 |
| 26 |
$38,125,560 |
$14,066,788
$3,362,674 |
$20,696,098 |
| 27 |
$40,031,464 |
$14,771,972
$3,530,775 |
$21,728,717 |
| 28 |
$42,033,112 |
$15,512,582
$3,707,320 |
$22,813,210 |
| 29 |
$44,134,992 |
$16,290,277
$3,892,706 |
$23,952,009 |
| 30 |
$46,341,592 |
$17,106,719
$4,087,328 |
$25,147,545 |
|
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