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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma 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(4.75%) | $8,103,500 | | Net Lumpsum Payment | $99,414,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$268,096 |
$3,327,372 |
| 2 |
$5,926,500 |
$2,153,135
$281,509 |
$3,491,856 |
| 3 |
$6,222,750 |
$2,262,748
$295,581 |
$3,664,421 |
| 4 |
$6,534,000 |
$2,377,910
$310,365 |
$3,845,725 |
| 5 |
$6,860,625 |
$2,498,762
$325,880 |
$4,035,983 |
| 6 |
$7,203,750 |
$2,625,718
$342,178 |
$4,235,854 |
| 7 |
$7,563,750 |
$2,758,918
$359,278 |
$4,445,554 |
| 8 |
$7,942,125 |
$2,898,917
$377,251 |
$4,665,957 |
| 9 |
$8,339,250 |
$3,045,853
$396,114 |
$4,897,283 |
| 10 |
$8,756,250 |
$3,200,143
$415,922 |
$5,140,185 |
| 11 |
$9,193,875 |
$3,362,064
$436,709 |
$5,395,102 |
| 12 |
$9,653,625 |
$3,532,172
$458,547 |
$5,662,906 |
| 13 |
$10,136,250 |
$3,710,743
$481,472 |
$5,944,035 |
| 14 |
$10,643,250 |
$3,898,333
$505,554 |
$6,239,363 |
| 15 |
$11,175,375 |
$4,095,219
$530,830 |
$6,549,326 |
| 16 |
$11,734,125 |
$4,301,957
$557,371 |
$6,874,797 |
| 17 |
$12,320,625 |
$4,518,962
$585,230 |
$7,216,433 |
| 18 |
$12,936,750 |
$4,746,928
$614,496 |
$7,575,326 |
| 19 |
$13,583,625 |
$4,986,272
$645,222 |
$7,952,131 |
| 20 |
$14,262,750 |
$5,237,548
$677,481 |
$8,347,721 |
| 21 |
$14,976,000 |
$5,501,450
$711,360 |
$8,763,190 |
| 22 |
$15,724,875 |
$5,778,534
$746,932 |
$9,199,409 |
| 23 |
$16,510,875 |
$6,069,354
$784,267 |
$9,657,254 |
| 24 |
$17,336,625 |
$6,374,882
$823,490 |
$10,138,253 |
| 25 |
$18,203,250 |
$6,695,533
$864,654 |
$10,643,063 |
| 26 |
$19,113,750 |
$7,032,418
$907,903 |
$11,173,429 |
| 27 |
$20,069,250 |
$7,385,953
$953,289 |
$11,730,008 |
| 28 |
$21,072,750 |
$7,757,248
$1,000,956 |
$12,314,546 |
| 29 |
$22,126,500 |
$8,147,135
$1,051,009 |
$12,928,356 |
| 30 |
$23,232,750 |
$8,556,448
$1,103,556 |
$13,572,746 |
|
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