The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Mon Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(3.15%) | $2,979,900 | | Net Lumpsum Payment | $56,657,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$96,244 |
$1,868,298 |
| 2 |
$3,208,212 |
$1,147,369
$101,059 |
$1,959,784 |
| 3 |
$3,368,582 |
$1,206,706
$106,110 |
$2,055,766 |
| 4 |
$3,537,072 |
$1,269,047
$111,418 |
$2,156,607 |
| 5 |
$3,713,885 |
$1,334,468
$116,987 |
$2,262,430 |
| 6 |
$3,899,630 |
$1,403,193
$122,838 |
$2,373,599 |
| 7 |
$4,094,510 |
$1,475,299
$128,977 |
$2,490,234 |
| 8 |
$4,299,337 |
$1,551,085
$135,429 |
$2,612,823 |
| 9 |
$4,514,314 |
$1,630,627
$142,201 |
$2,741,486 |
| 10 |
$4,740,050 |
$1,714,149
$149,312 |
$2,876,589 |
| 11 |
$4,976,951 |
$1,801,802
$156,774 |
$3,018,375 |
| 12 |
$5,225,829 |
$1,893,887
$164,614 |
$3,167,328 |
| 13 |
$5,487,090 |
$1,990,554
$172,843 |
$3,323,693 |
| 14 |
$5,761,546 |
$2,092,102
$181,489 |
$3,487,955 |
| 15 |
$6,049,603 |
$2,198,683
$190,562 |
$3,660,358 |
| 16 |
$6,352,073 |
$2,310,597
$200,090 |
$3,841,386 |
| 17 |
$6,669,565 |
$2,428,069
$210,091 |
$4,031,405 |
| 18 |
$7,003,094 |
$2,551,475
$220,597 |
$4,231,022 |
| 19 |
$7,353,269 |
$2,681,040
$231,628 |
$4,440,601 |
| 20 |
$7,720,902 |
$2,817,064
$243,208 |
$4,660,630 |
| 21 |
$8,107,008 |
$2,959,923
$255,371 |
$4,891,714 |
| 22 |
$8,512,399 |
$3,109,918
$268,141 |
$5,134,340 |
| 23 |
$8,937,887 |
$3,267,349
$281,543 |
$5,388,995 |
| 24 |
$9,384,893 |
$3,432,741
$295,624 |
$5,656,528 |
| 25 |
$9,854,026 |
$3,606,320
$310,402 |
$5,937,304 |
| 26 |
$10,346,910 |
$3,788,687
$325,928 |
$6,232,295 |
| 27 |
$10,864,154 |
$3,980,067
$342,221 |
$6,541,866 |
| 28 |
$11,407,382 |
$4,181,062
$359,333 |
$6,866,987 |
| 29 |
$11,977,812 |
$4,392,121
$377,301 |
$7,208,390 |
| 30 |
$12,576,662 |
$4,613,695
$396,165 |
$7,566,802 |
|
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