The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(3.15%) | $926,100 | | Net Lumpsum Payment | $17,635,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$30,817 |
$625,191 |
| 2 |
$1,027,260 |
$340,417
$32,359 |
$654,484 |
| 3 |
$1,078,610 |
$359,416
$33,976 |
$685,218 |
| 4 |
$1,132,560 |
$379,378
$35,676 |
$717,506 |
| 5 |
$1,189,175 |
$400,325
$37,459 |
$751,391 |
| 6 |
$1,248,650 |
$422,331
$39,332 |
$786,987 |
| 7 |
$1,311,050 |
$445,419
$41,298 |
$824,333 |
| 8 |
$1,376,635 |
$469,685
$43,364 |
$863,586 |
| 9 |
$1,445,470 |
$495,154
$45,532 |
$904,784 |
| 10 |
$1,517,750 |
$521,898
$47,809 |
$948,043 |
| 11 |
$1,593,605 |
$549,964
$50,199 |
$993,442 |
| 12 |
$1,673,295 |
$579,450
$52,709 |
$1,041,136 |
| 13 |
$1,756,950 |
$610,402
$55,344 |
$1,091,204 |
| 14 |
$1,844,830 |
$642,917
$58,112 |
$1,143,801 |
| 15 |
$1,937,065 |
$677,044
$61,018 |
$1,199,003 |
| 16 |
$2,033,915 |
$712,879
$64,068 |
$1,256,968 |
| 17 |
$2,135,575 |
$750,493
$67,271 |
$1,317,811 |
| 18 |
$2,242,370 |
$790,007
$70,635 |
$1,381,728 |
| 19 |
$2,354,495 |
$831,494
$74,167 |
$1,448,834 |
| 20 |
$2,472,210 |
$875,048
$77,875 |
$1,519,287 |
| 21 |
$2,595,840 |
$920,791
$81,769 |
$1,593,280 |
| 22 |
$2,725,645 |
$968,819
$85,858 |
$1,670,968 |
| 23 |
$2,861,885 |
$1,019,228
$90,149 |
$1,752,508 |
| 24 |
$3,005,015 |
$1,072,186
$94,658 |
$1,838,171 |
| 25 |
$3,155,230 |
$1,127,765
$99,390 |
$1,928,075 |
| 26 |
$3,313,050 |
$1,186,159
$104,361 |
$2,022,530 |
| 27 |
$3,478,670 |
$1,247,438
$109,578 |
$2,121,654 |
| 28 |
$3,652,610 |
$1,311,796
$115,057 |
$2,225,757 |
| 29 |
$3,835,260 |
$1,379,377
$120,811 |
$2,335,072 |
| 30 |
$4,027,010 |
$1,450,324
$126,851 |
$2,449,835 |
|
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