The jackpot for the Powerball draw on Sat May 16, 2026, is projected to be $86 Million, with an option for a cash payout of $38.8 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma Powerball Jackpot/Cash Option for Sat May 16, 2026 |
|---|
| Draw Date | Sat May 16, 2026 | | Projected Jackpot | $86,000,000 | | Cash Value | $38,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $38,800,000 | | Federal Tax(24%) | $9,312,000 | | Additional Federal Tax | $5,004,330 | | State Tax(4.75%) | $1,843,000 | | Net Lumpsum Payment | $22,640,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,294,386 |
$439,253
$61,483 |
$793,650 |
| 2 |
$1,359,144 |
$463,214
$64,559 |
$831,371 |
| 3 |
$1,427,084 |
$488,351
$67,786 |
$870,947 |
| 4 |
$1,498,464 |
$514,762
$71,177 |
$912,525 |
| 5 |
$1,573,370 |
$542,477
$74,735 |
$956,158 |
| 6 |
$1,652,060 |
$571,593
$78,473 |
$1,001,994 |
| 7 |
$1,734,620 |
$602,140
$82,394 |
$1,050,086 |
| 8 |
$1,821,394 |
$634,246
$86,516 |
$1,100,632 |
| 9 |
$1,912,468 |
$667,944
$90,842 |
$1,153,682 |
| 10 |
$2,008,100 |
$703,327
$95,385 |
$1,209,388 |
| 11 |
$2,108,462 |
$740,461
$100,152 |
$1,267,849 |
| 12 |
$2,213,898 |
$779,473
$105,160 |
$1,329,265 |
| 13 |
$2,324,580 |
$820,425
$110,418 |
$1,393,737 |
| 14 |
$2,440,852 |
$863,446
$115,940 |
$1,461,466 |
| 15 |
$2,562,886 |
$908,598
$121,737 |
$1,532,551 |
| 16 |
$2,691,026 |
$956,010
$127,824 |
$1,607,192 |
| 17 |
$2,825,530 |
$1,005,776
$134,213 |
$1,685,541 |
| 18 |
$2,966,828 |
$1,058,057
$140,924 |
$1,767,847 |
| 19 |
$3,115,178 |
$1,112,946
$147,971 |
$1,854,261 |
| 20 |
$3,270,924 |
$1,170,572
$155,369 |
$1,944,983 |
| 21 |
$3,434,496 |
$1,231,094
$163,139 |
$2,040,263 |
| 22 |
$3,606,238 |
$1,294,638
$171,296 |
$2,140,304 |
| 23 |
$3,786,494 |
$1,361,333
$179,858 |
$2,245,303 |
| 24 |
$3,975,866 |
$1,431,401
$188,854 |
$2,355,611 |
| 25 |
$4,174,612 |
$1,504,937
$198,294 |
$2,471,381 |
| 26 |
$4,383,420 |
$1,582,196
$208,212 |
$2,593,012 |
| 27 |
$4,602,548 |
$1,663,273
$218,621 |
$2,720,654 |
| 28 |
$4,832,684 |
$1,748,423
$229,552 |
$2,854,709 |
| 29 |
$5,074,344 |
$1,837,838
$241,031 |
$2,995,475 |
| 30 |
$5,328,044 |
$1,931,707
$253,082 |
$3,143,255 |
|
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