The jackpot for the Powerball draw on Wed Jul 1, 2026, is projected to be $375 Million, with an option for a cash payout of $170.6 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 Jul 1, 2026 |
|---|
| Draw Date | Wed Jul 1, 2026 | | Projected Jackpot | $375,000,000 | | Cash Value | $170,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,600,000 | | Federal Tax(24%) | $40,944,000 | | Additional Federal Tax | $22,138,330 | | State Tax(3.99%) | $6,806,940 | | Net Lumpsum Payment | $100,710,730 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$225,201 |
$3,370,267 |
| 2 |
$5,926,500 |
$2,153,135
$236,467 |
$3,536,898 |
| 3 |
$6,222,750 |
$2,262,748
$248,288 |
$3,711,714 |
| 4 |
$6,534,000 |
$2,377,910
$260,707 |
$3,895,383 |
| 5 |
$6,860,625 |
$2,498,762
$273,739 |
$4,088,124 |
| 6 |
$7,203,750 |
$2,625,718
$287,430 |
$4,290,602 |
| 7 |
$7,563,750 |
$2,758,918
$301,794 |
$4,503,038 |
| 8 |
$7,942,125 |
$2,898,917
$316,891 |
$4,726,317 |
| 9 |
$8,339,250 |
$3,045,853
$332,736 |
$4,960,661 |
| 10 |
$8,756,250 |
$3,200,143
$349,374 |
$5,206,733 |
| 11 |
$9,193,875 |
$3,362,064
$366,836 |
$5,464,975 |
| 12 |
$9,653,625 |
$3,532,172
$385,180 |
$5,736,273 |
| 13 |
$10,136,250 |
$3,710,743
$404,436 |
$6,021,071 |
| 14 |
$10,643,250 |
$3,898,333
$424,666 |
$6,320,251 |
| 15 |
$11,175,375 |
$4,095,219
$445,897 |
$6,634,259 |
| 16 |
$11,734,125 |
$4,301,957
$468,192 |
$6,963,976 |
| 17 |
$12,320,625 |
$4,518,962
$491,593 |
$7,310,070 |
| 18 |
$12,936,750 |
$4,746,928
$516,176 |
$7,673,646 |
| 19 |
$13,583,625 |
$4,986,272
$541,987 |
$8,055,366 |
| 20 |
$14,262,750 |
$5,237,548
$569,084 |
$8,456,118 |
| 21 |
$14,976,000 |
$5,501,450
$597,542 |
$8,877,008 |
| 22 |
$15,724,875 |
$5,778,534
$627,423 |
$9,318,918 |
| 23 |
$16,510,875 |
$6,069,354
$658,784 |
$9,782,737 |
| 24 |
$17,336,625 |
$6,374,882
$691,731 |
$10,270,012 |
| 25 |
$18,203,250 |
$6,695,533
$726,310 |
$10,781,407 |
| 26 |
$19,113,750 |
$7,032,418
$762,639 |
$11,318,693 |
| 27 |
$20,069,250 |
$7,385,953
$800,763 |
$11,882,534 |
| 28 |
$21,072,750 |
$7,757,248
$840,803 |
$12,474,699 |
| 29 |
$22,126,500 |
$8,147,135
$882,847 |
$13,096,518 |
| 30 |
$23,232,750 |
$8,556,448
$926,987 |
$13,749,315 |
|
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