The jackpot for the Powerball draw on Wed Sep 23, 2026, is projected to be $332 Million, with an option for a cash payout of $141.7 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 Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas Powerball Jackpot/Cash Option for Wed Sep 23, 2026 |
|---|
| Draw Date | Wed Sep 23, 2026 | | Projected Jackpot | $332,000,000 | | Cash Value | $141,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $141,700,000 | | Federal Tax(24%) | $34,008,000 | | Additional Federal Tax | $18,381,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $89,310,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,996,932 |
$1,809,195
$0 |
$3,187,737 |
| 2 |
$5,246,928 |
$1,901,694
$0 |
$3,345,234 |
| 3 |
$5,509,208 |
$1,998,737
$0 |
$3,510,471 |
| 4 |
$5,784,768 |
$2,100,695
$0 |
$3,684,073 |
| 5 |
$6,073,940 |
$2,207,688
$0 |
$3,866,252 |
| 6 |
$6,377,720 |
$2,320,087
$0 |
$4,057,633 |
| 7 |
$6,696,440 |
$2,438,013
$0 |
$4,258,427 |
| 8 |
$7,031,428 |
$2,561,959
$0 |
$4,469,469 |
| 9 |
$7,383,016 |
$2,692,046
$0 |
$4,690,970 |
| 10 |
$7,752,200 |
$2,828,644
$0 |
$4,923,556 |
| 11 |
$8,139,644 |
$2,971,999
$0 |
$5,167,645 |
| 12 |
$8,546,676 |
$3,122,601
$0 |
$5,424,075 |
| 13 |
$8,973,960 |
$3,280,696
$0 |
$5,693,264 |
| 14 |
$9,422,824 |
$3,446,775
$0 |
$5,976,049 |
| 15 |
$9,893,932 |
$3,621,085
$0 |
$6,272,847 |
| 16 |
$10,388,612 |
$3,804,117
$0 |
$6,584,495 |
| 17 |
$10,907,860 |
$3,996,239
$0 |
$6,911,621 |
| 18 |
$11,453,336 |
$4,198,065
$0 |
$7,255,271 |
| 19 |
$12,026,036 |
$4,409,964
$0 |
$7,616,072 |
| 20 |
$12,627,288 |
$4,632,427
$0 |
$7,994,861 |
| 21 |
$13,258,752 |
$4,866,069
$0 |
$8,392,683 |
| 22 |
$13,921,756 |
$5,111,380
$0 |
$8,810,376 |
| 23 |
$14,617,628 |
$5,368,853
$0 |
$9,248,775 |
| 24 |
$15,348,692 |
$5,639,346
$0 |
$9,709,346 |
| 25 |
$16,115,944 |
$5,923,230
$0 |
$10,192,714 |
| 26 |
$16,922,040 |
$6,221,485
$0 |
$10,700,555 |
| 27 |
$17,767,976 |
$6,534,482
$0 |
$11,233,494 |
| 28 |
$18,656,408 |
$6,863,201
$0 |
$11,793,207 |
| 29 |
$19,589,328 |
$7,208,382
$0 |
$12,380,946 |
| 30 |
$20,568,728 |
$7,570,760
$0 |
$12,997,968 |
|
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