The jackpot for the Powerball draw on Mon Mar 2, 2026, is projected to be $249 Million, with an option for a cash payout of $117.2 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Mon Mar 2, 2026 |
|---|
| Draw Date | Mon Mar 2, 2026 | | Projected Jackpot | $249,000,000 | | Cash Value | $117,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $117,200,000 | | Federal Tax(24%) | $28,128,000 | | Additional Federal Tax | $15,196,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $73,875,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,747,699 |
$1,346,979
$0 |
$2,400,720 |
| 2 |
$3,935,196 |
$1,416,353
$0 |
$2,518,843 |
| 3 |
$4,131,906 |
$1,489,136
$0 |
$2,642,770 |
| 4 |
$4,338,576 |
$1,565,604
$0 |
$2,772,972 |
| 5 |
$4,555,455 |
$1,645,849
$0 |
$2,909,606 |
| 6 |
$4,783,290 |
$1,730,148
$0 |
$3,053,142 |
| 7 |
$5,022,330 |
$1,818,592
$0 |
$3,203,738 |
| 8 |
$5,273,571 |
$1,911,552
$0 |
$3,362,019 |
| 9 |
$5,537,262 |
$2,009,117
$0 |
$3,528,145 |
| 10 |
$5,814,150 |
$2,111,566
$0 |
$3,702,584 |
| 11 |
$6,104,733 |
$2,219,082
$0 |
$3,885,651 |
| 12 |
$6,410,007 |
$2,332,033
$0 |
$4,077,974 |
| 13 |
$6,730,470 |
$2,450,604
$0 |
$4,279,866 |
| 14 |
$7,067,118 |
$2,575,164
$0 |
$4,491,954 |
| 15 |
$7,420,449 |
$2,705,897
$0 |
$4,714,552 |
| 16 |
$7,791,459 |
$2,843,170
$0 |
$4,948,289 |
| 17 |
$8,180,895 |
$2,987,262
$0 |
$5,193,633 |
| 18 |
$8,590,002 |
$3,138,631
$0 |
$5,451,371 |
| 19 |
$9,019,527 |
$3,297,555
$0 |
$5,721,972 |
| 20 |
$9,470,466 |
$3,464,403
$0 |
$6,006,063 |
| 21 |
$9,944,064 |
$3,639,634
$0 |
$6,304,430 |
| 22 |
$10,441,317 |
$3,823,618
$0 |
$6,617,699 |
| 23 |
$10,963,221 |
$4,016,722
$0 |
$6,946,499 |
| 24 |
$11,511,519 |
$4,219,592
$0 |
$7,291,927 |
| 25 |
$12,086,958 |
$4,432,505
$0 |
$7,654,453 |
| 26 |
$12,691,530 |
$4,656,196
$0 |
$8,035,334 |
| 27 |
$13,325,982 |
$4,890,944
$0 |
$8,435,038 |
| 28 |
$13,992,306 |
$5,137,484
$0 |
$8,854,822 |
| 29 |
$14,691,996 |
$5,396,369
$0 |
$9,295,627 |
| 30 |
$15,426,546 |
$5,668,152
$0 |
$9,758,394 |
|
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