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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $5,237,420 | | Net Lumpsum Payment | $102,280,250 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$173,275 |
$3,422,193 |
| 2 |
$5,926,500 |
$2,153,135
$181,944 |
$3,591,421 |
| 3 |
$6,222,750 |
$2,262,748
$191,038 |
$3,768,964 |
| 4 |
$6,534,000 |
$2,377,910
$200,594 |
$3,955,496 |
| 5 |
$6,860,625 |
$2,498,762
$210,621 |
$4,151,242 |
| 6 |
$7,203,750 |
$2,625,718
$221,155 |
$4,356,877 |
| 7 |
$7,563,750 |
$2,758,918
$232,207 |
$4,572,625 |
| 8 |
$7,942,125 |
$2,898,917
$243,823 |
$4,799,385 |
| 9 |
$8,339,250 |
$3,045,853
$256,015 |
$5,037,382 |
| 10 |
$8,756,250 |
$3,200,143
$268,817 |
$5,287,290 |
| 11 |
$9,193,875 |
$3,362,064
$282,252 |
$5,549,559 |
| 12 |
$9,653,625 |
$3,532,172
$296,366 |
$5,825,087 |
| 13 |
$10,136,250 |
$3,710,743
$311,183 |
$6,114,324 |
| 14 |
$10,643,250 |
$3,898,333
$326,748 |
$6,418,169 |
| 15 |
$11,175,375 |
$4,095,219
$343,084 |
$6,737,072 |
| 16 |
$11,734,125 |
$4,301,957
$360,238 |
$7,071,930 |
| 17 |
$12,320,625 |
$4,518,962
$378,243 |
$7,423,420 |
| 18 |
$12,936,750 |
$4,746,928
$397,158 |
$7,792,664 |
| 19 |
$13,583,625 |
$4,986,272
$417,017 |
$8,180,336 |
| 20 |
$14,262,750 |
$5,237,548
$437,866 |
$8,587,336 |
| 21 |
$14,976,000 |
$5,501,450
$459,763 |
$9,014,787 |
| 22 |
$15,724,875 |
$5,778,534
$482,754 |
$9,463,587 |
| 23 |
$16,510,875 |
$6,069,354
$506,884 |
$9,934,637 |
| 24 |
$17,336,625 |
$6,374,882
$532,234 |
$10,429,509 |
| 25 |
$18,203,250 |
$6,695,533
$558,840 |
$10,948,877 |
| 26 |
$19,113,750 |
$7,032,418
$586,792 |
$11,494,540 |
| 27 |
$20,069,250 |
$7,385,953
$616,126 |
$12,067,171 |
| 28 |
$21,072,750 |
$7,757,248
$646,933 |
$12,668,569 |
| 29 |
$22,126,500 |
$8,147,135
$679,284 |
$13,300,081 |
| 30 |
$23,232,750 |
$8,556,448
$713,245 |
$13,963,057 |
|
|
