The jackpot for the Powerball draw on Mon Aug 3, 2026, is projected to be $748 Million, with an option for a cash payout of $325.1 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 Aug 3, 2026 |
|---|
| Draw Date | Mon Aug 3, 2026 | | Projected Jackpot | $748,000,000 | | Cash Value | $325,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $325,100,000 | | Federal Tax(24%) | $78,024,000 | | Additional Federal Tax | $42,223,330 | | State Tax(3.15%) | $10,240,650 | | Net Lumpsum Payment | $194,612,020 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,258,148 |
$4,125,845
$354,632 |
$6,777,671 |
| 2 |
$11,821,392 |
$4,334,245
$372,374 |
$7,114,773 |
| 3 |
$12,412,312 |
$4,552,886
$390,988 |
$7,468,438 |
| 4 |
$13,033,152 |
$4,782,597
$410,544 |
$7,840,011 |
| 5 |
$13,684,660 |
$5,023,655
$431,067 |
$8,229,938 |
| 6 |
$14,369,080 |
$5,276,890
$452,626 |
$8,639,564 |
| 7 |
$15,087,160 |
$5,542,580
$475,246 |
$9,069,334 |
| 8 |
$15,841,892 |
$5,821,830
$499,020 |
$9,521,042 |
| 9 |
$16,634,024 |
$6,114,919
$523,972 |
$9,995,133 |
| 10 |
$17,465,800 |
$6,422,676
$550,173 |
$10,492,951 |
| 11 |
$18,338,716 |
$6,745,655
$577,670 |
$11,015,391 |
| 12 |
$19,255,764 |
$7,084,963
$606,557 |
$11,564,244 |
| 13 |
$20,218,440 |
$7,441,153
$636,881 |
$12,140,406 |
| 14 |
$21,229,736 |
$7,815,333
$668,737 |
$12,745,666 |
| 15 |
$22,291,148 |
$8,208,055
$702,171 |
$13,380,922 |
| 16 |
$23,405,668 |
$8,620,428
$737,279 |
$14,047,961 |
| 17 |
$24,575,540 |
$9,053,280
$774,130 |
$14,748,130 |
| 18 |
$25,804,504 |
$9,507,997
$812,842 |
$15,483,665 |
| 19 |
$27,094,804 |
$9,985,408
$853,486 |
$16,255,910 |
| 20 |
$28,449,432 |
$10,486,620
$896,157 |
$17,066,655 |
| 21 |
$29,872,128 |
$11,013,018
$940,972 |
$17,918,138 |
| 22 |
$31,365,884 |
$11,565,707
$988,025 |
$18,812,152 |
| 23 |
$32,933,692 |
$12,145,796
$1,037,411 |
$19,750,485 |
| 24 |
$34,580,788 |
$12,755,222
$1,089,295 |
$20,736,271 |
| 25 |
$36,309,416 |
$13,394,814
$1,143,747 |
$21,770,855 |
| 26 |
$38,125,560 |
$14,066,788
$1,200,955 |
$22,857,817 |
| 27 |
$40,031,464 |
$14,771,972
$1,260,991 |
$23,998,501 |
| 28 |
$42,033,112 |
$15,512,582
$1,324,043 |
$25,196,487 |
| 29 |
$44,134,992 |
$16,290,277
$1,390,252 |
$26,454,463 |
| 30 |
$46,341,592 |
$17,106,719
$1,459,760 |
$27,775,113 |
|
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