The jackpot for the Powerball draw on Sat Jun 20, 2026, is projected to be $302 Million, with an option for a cash payout of $135.3 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 Sat Jun 20, 2026 |
|---|
| Draw Date | Sat Jun 20, 2026 | | Projected Jackpot | $302,000,000 | | Cash Value | $135,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $135,300,000 | | Federal Tax(24%) | $32,472,000 | | Additional Federal Tax | $17,549,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $85,278,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,545,402 |
$1,642,129
$0 |
$2,903,273 |
| 2 |
$4,772,808 |
$1,726,269
$0 |
$3,046,539 |
| 3 |
$5,011,388 |
$1,814,544
$0 |
$3,196,844 |
| 4 |
$5,262,048 |
$1,907,288
$0 |
$3,354,760 |
| 5 |
$5,525,090 |
$2,004,614
$0 |
$3,520,476 |
| 6 |
$5,801,420 |
$2,106,856
$0 |
$3,694,564 |
| 7 |
$6,091,340 |
$2,214,126
$0 |
$3,877,214 |
| 8 |
$6,396,058 |
$2,326,872
$0 |
$4,069,186 |
| 9 |
$6,715,876 |
$2,445,205
$0 |
$4,270,671 |
| 10 |
$7,051,700 |
$2,569,459
$0 |
$4,482,241 |
| 11 |
$7,404,134 |
$2,699,860
$0 |
$4,704,274 |
| 12 |
$7,774,386 |
$2,836,853
$0 |
$4,937,533 |
| 13 |
$8,163,060 |
$2,980,663
$0 |
$5,182,397 |
| 14 |
$8,571,364 |
$3,131,735
$0 |
$5,439,629 |
| 15 |
$8,999,902 |
$3,290,294
$0 |
$5,709,608 |
| 16 |
$9,449,882 |
$3,456,787
$0 |
$5,993,095 |
| 17 |
$9,922,210 |
$3,631,548
$0 |
$6,290,662 |
| 18 |
$10,418,396 |
$3,815,137
$0 |
$6,603,259 |
| 19 |
$10,939,346 |
$4,007,888
$0 |
$6,931,458 |
| 20 |
$11,486,268 |
$4,210,250
$0 |
$7,276,018 |
| 21 |
$12,060,672 |
$4,422,779
$0 |
$7,637,893 |
| 22 |
$12,663,766 |
$4,645,924
$0 |
$8,017,842 |
| 23 |
$13,296,758 |
$4,880,131
$0 |
$8,416,627 |
| 24 |
$13,961,762 |
$5,126,182
$0 |
$8,835,580 |
| 25 |
$14,659,684 |
$5,384,413
$0 |
$9,275,271 |
| 26 |
$15,392,940 |
$5,655,718
$0 |
$9,737,222 |
| 27 |
$16,162,436 |
$5,940,432
$0 |
$10,222,004 |
| 28 |
$16,970,588 |
$6,239,448
$0 |
$10,731,140 |
| 29 |
$17,819,208 |
$6,553,437
$0 |
$11,265,771 |
| 30 |
$18,710,108 |
$6,883,070
$0 |
$11,827,038 |
|
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