The jackpot for the Powerball draw on Wed Apr 1, 2026, is projected to be $194 Million, with an option for a cash payout of $87.1 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 Wed Apr 1, 2026 |
|---|
| Draw Date | Wed Apr 1, 2026 | | Projected Jackpot | $194,000,000 | | Cash Value | $87,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,100,000 | | Federal Tax(24%) | $20,904,000 | | Additional Federal Tax | $11,283,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $54,912,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,919,894 |
$1,040,691
$0 |
$1,879,203 |
| 2 |
$3,065,976 |
$1,094,742
$0 |
$1,971,234 |
| 3 |
$3,219,236 |
$1,151,448
$0 |
$2,067,788 |
| 4 |
$3,380,256 |
$1,211,025
$0 |
$2,169,231 |
| 5 |
$3,549,230 |
$1,273,545
$0 |
$2,275,685 |
| 6 |
$3,726,740 |
$1,339,224
$0 |
$2,387,516 |
| 7 |
$3,912,980 |
$1,408,133
$0 |
$2,504,847 |
| 8 |
$4,108,726 |
$1,480,559
$0 |
$2,628,167 |
| 9 |
$4,314,172 |
$1,556,574
$0 |
$2,757,598 |
| 10 |
$4,529,900 |
$1,636,393
$0 |
$2,893,507 |
| 11 |
$4,756,298 |
$1,720,161
$0 |
$3,036,137 |
| 12 |
$4,994,142 |
$1,808,163
$0 |
$3,185,979 |
| 13 |
$5,243,820 |
$1,900,544
$0 |
$3,343,276 |
| 14 |
$5,506,108 |
$1,997,590
$0 |
$3,508,518 |
| 15 |
$5,781,394 |
$2,099,446
$0 |
$3,681,948 |
| 16 |
$6,070,454 |
$2,206,398
$0 |
$3,864,056 |
| 17 |
$6,373,870 |
$2,318,662
$0 |
$4,055,208 |
| 18 |
$6,692,612 |
$2,436,597
$0 |
$4,256,015 |
| 19 |
$7,027,262 |
$2,560,417
$0 |
$4,466,845 |
| 20 |
$7,378,596 |
$2,690,411
$0 |
$4,688,185 |
| 21 |
$7,747,584 |
$2,826,936
$0 |
$4,920,648 |
| 22 |
$8,135,002 |
$2,970,281
$0 |
$5,164,721 |
| 23 |
$8,541,626 |
$3,120,732
$0 |
$5,420,894 |
| 24 |
$8,968,814 |
$3,278,792
$0 |
$5,690,022 |
| 25 |
$9,417,148 |
$3,444,675
$0 |
$5,972,473 |
| 26 |
$9,888,180 |
$3,618,957
$0 |
$6,269,223 |
| 27 |
$10,382,492 |
$3,801,852
$0 |
$6,580,640 |
| 28 |
$10,901,636 |
$3,993,936
$0 |
$6,907,700 |
| 29 |
$11,446,776 |
$4,195,638
$0 |
$7,251,138 |
| 30 |
$12,019,076 |
$4,407,389
$0 |
$7,611,687 |
|
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