The jackpot for the Powerball draw on Sat Oct 31, 2026, is projected to be $760 Million, with an option for a cash payout of $326 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 those living in Tennessee, the bright side is you won't have to pay any state taxes on your lottery prize.
| Tennessee Powerball Jackpot/Cash Option for Sat Oct 31, 2026 |
|---|
| Draw Date | Sat Oct 31, 2026 | | Projected Jackpot | $760,000,000 | | Cash Value | $326,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $326,000,000 | | Federal Tax(24%) | $78,240,000 | | Additional Federal Tax | $42,340,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $205,419,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,438,760 |
$4,192,672
$0 |
$7,246,088 |
| 2 |
$12,011,040 |
$4,404,415
$0 |
$7,606,625 |
| 3 |
$12,611,440 |
$4,626,563
$0 |
$7,984,877 |
| 4 |
$13,242,240 |
$4,859,959
$0 |
$8,382,281 |
| 5 |
$13,904,200 |
$5,104,884
$0 |
$8,799,316 |
| 6 |
$14,599,600 |
$5,362,182
$0 |
$9,237,418 |
| 7 |
$15,329,200 |
$5,632,134
$0 |
$9,697,066 |
| 8 |
$16,096,040 |
$5,915,865
$0 |
$10,180,175 |
| 9 |
$16,900,880 |
$6,213,656
$0 |
$10,687,224 |
| 10 |
$17,746,000 |
$6,526,350
$0 |
$11,219,650 |
| 11 |
$18,632,920 |
$6,854,511
$0 |
$11,778,409 |
| 12 |
$19,564,680 |
$7,199,262
$0 |
$12,365,418 |
| 13 |
$20,542,800 |
$7,561,166
$0 |
$12,981,634 |
| 14 |
$21,570,320 |
$7,941,349
$0 |
$13,628,971 |
| 15 |
$22,648,760 |
$8,340,372
$0 |
$14,308,388 |
| 16 |
$23,781,160 |
$8,759,360
$0 |
$15,021,800 |
| 17 |
$24,969,800 |
$9,199,156
$0 |
$15,770,644 |
| 18 |
$26,218,480 |
$9,661,168
$0 |
$16,557,312 |
| 19 |
$27,529,480 |
$10,146,238
$0 |
$17,383,242 |
| 20 |
$28,905,840 |
$10,655,491
$0 |
$18,250,349 |
| 21 |
$30,351,360 |
$11,190,334
$0 |
$19,161,026 |
| 22 |
$31,869,080 |
$11,751,890
$0 |
$20,117,190 |
| 23 |
$33,462,040 |
$12,341,285
$0 |
$21,120,755 |
| 24 |
$35,135,560 |
$12,960,488
$0 |
$22,175,072 |
| 25 |
$36,891,920 |
$13,610,341
$0 |
$23,281,579 |
| 26 |
$38,737,200 |
$14,293,094
$0 |
$24,444,106 |
| 27 |
$40,673,680 |
$15,009,592
$0 |
$25,664,088 |
| 28 |
$42,707,440 |
$15,762,083
$0 |
$26,945,357 |
| 29 |
$44,843,040 |
$16,552,255
$0 |
$28,290,785 |
| 30 |
$47,085,040 |
$17,381,795
$0 |
$29,703,245 |
|
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