The jackpot for the Powerball draw on Mon Mar 16, 2026, is projected to be $88 Million, with an option for a cash payout of $40 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 Colorado residents, the state will deduct 4% from your lottery earnings.
Colorado Powerball Jackpot/Cash Option for Mon Mar 16, 2026
