The jackpot for the Powerball draw on Wed Aug 19, 2026, is projected to be $48 Million, with an option for a cash payout of $20.8 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio Powerball Jackpot/Cash Option for Wed Aug 19, 2026 |
|---|
| Draw Date | Wed Aug 19, 2026 | | Projected Jackpot | $48,000,000 | | Cash Value | $20,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,800,000 | | Federal Tax(24%) | $4,992,000 | | Additional Federal Tax | $2,664,330 | | State Tax(3.99%) | $829,920 | | Net Lumpsum Payment | $12,313,750 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$722,448 |
$227,636
$28,826 |
$465,986 |
| 2 |
$758,592 |
$241,009
$30,268 |
$487,315 |
| 3 |
$796,512 |
$255,040
$31,781 |
$509,691 |
| 4 |
$836,352 |
$269,781
$33,370 |
$533,201 |
| 5 |
$878,160 |
$285,250
$35,039 |
$557,871 |
| 6 |
$922,080 |
$301,500
$36,791 |
$583,789 |
| 7 |
$968,160 |
$318,550
$38,630 |
$610,980 |
| 8 |
$1,016,592 |
$336,469
$40,562 |
$639,561 |
| 9 |
$1,067,424 |
$355,277
$42,590 |
$669,557 |
| 10 |
$1,120,800 |
$375,026
$44,720 |
$701,054 |
| 11 |
$1,176,816 |
$395,752
$46,955 |
$734,109 |
| 12 |
$1,235,664 |
$417,526
$49,303 |
$768,835 |
| 13 |
$1,297,440 |
$440,383
$51,768 |
$805,289 |
| 14 |
$1,362,336 |
$464,395
$54,357 |
$843,584 |
| 15 |
$1,430,448 |
$489,596
$57,075 |
$883,777 |
| 16 |
$1,501,968 |
$516,059
$59,929 |
$925,980 |
| 17 |
$1,577,040 |
$543,835
$62,924 |
$970,281 |
| 18 |
$1,655,904 |
$573,015
$66,071 |
$1,016,818 |
| 19 |
$1,738,704 |
$603,651
$69,374 |
$1,065,679 |
| 20 |
$1,825,632 |
$635,814
$72,843 |
$1,116,975 |
| 21 |
$1,916,928 |
$669,594
$76,485 |
$1,170,849 |
| 22 |
$2,012,784 |
$705,060
$80,310 |
$1,227,414 |
| 23 |
$2,113,392 |
$742,285
$84,324 |
$1,286,783 |
| 24 |
$2,219,088 |
$781,393
$88,542 |
$1,349,153 |
| 25 |
$2,330,016 |
$822,436
$92,968 |
$1,414,612 |
| 26 |
$2,446,560 |
$865,558
$97,618 |
$1,483,384 |
| 27 |
$2,568,864 |
$910,810
$102,498 |
$1,555,556 |
| 28 |
$2,697,312 |
$958,336
$107,623 |
$1,631,353 |
| 29 |
$2,832,192 |
$1,008,241
$113,004 |
$1,710,947 |
| 30 |
$2,973,792 |
$1,060,633
$118,654 |
$1,794,505 |
|
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