The jackpot for the Powerball draw on Mon Aug 24, 2026, is projected to be $81 Million, with an option for a cash payout of $34.8 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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky Powerball Jackpot/Cash Option for Mon Aug 24, 2026 |
|---|
| Draw Date | Mon Aug 24, 2026 | | Projected Jackpot | $81,000,000 | | Cash Value | $34,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $34,800,000 | | Federal Tax(24%) | $8,352,000 | | Additional Federal Tax | $4,484,330 | | State Tax(4.5%) | $1,566,000 | | Net Lumpsum Payment | $20,397,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,219,131 |
$411,409
$54,861 |
$752,861 |
| 2 |
$1,280,124 |
$433,976
$57,606 |
$788,542 |
| 3 |
$1,344,114 |
$457,653
$60,485 |
$825,976 |
| 4 |
$1,411,344 |
$482,528
$63,510 |
$865,306 |
| 5 |
$1,481,895 |
$508,632
$66,685 |
$906,578 |
| 6 |
$1,556,010 |
$536,054
$70,020 |
$949,936 |
| 7 |
$1,633,770 |
$564,825
$73,520 |
$995,425 |
| 8 |
$1,715,499 |
$595,065
$77,197 |
$1,043,237 |
| 9 |
$1,801,278 |
$626,803
$81,058 |
$1,093,417 |
| 10 |
$1,891,350 |
$660,130
$85,111 |
$1,146,109 |
| 11 |
$1,985,877 |
$695,105
$89,364 |
$1,201,408 |
| 12 |
$2,085,183 |
$731,848
$93,833 |
$1,259,502 |
| 13 |
$2,189,430 |
$770,419
$98,524 |
$1,320,487 |
| 14 |
$2,298,942 |
$810,939
$103,452 |
$1,384,551 |
| 15 |
$2,413,881 |
$853,466
$108,625 |
$1,451,790 |
| 16 |
$2,534,571 |
$898,122
$114,056 |
$1,522,393 |
| 17 |
$2,661,255 |
$944,995
$119,756 |
$1,596,504 |
| 18 |
$2,794,338 |
$994,235
$125,745 |
$1,674,358 |
| 19 |
$2,934,063 |
$1,045,934
$132,033 |
$1,756,096 |
| 20 |
$3,080,754 |
$1,100,209
$138,634 |
$1,841,911 |
| 21 |
$3,234,816 |
$1,157,212
$145,567 |
$1,932,037 |
| 22 |
$3,396,573 |
$1,217,062
$152,846 |
$2,026,665 |
| 23 |
$3,566,349 |
$1,279,880
$160,486 |
$2,125,983 |
| 24 |
$3,744,711 |
$1,345,873
$168,512 |
$2,230,326 |
| 25 |
$3,931,902 |
$1,415,134
$176,936 |
$2,339,832 |
| 26 |
$4,128,570 |
$1,487,901
$185,786 |
$2,454,883 |
| 27 |
$4,334,958 |
$1,564,265
$195,073 |
$2,575,620 |
| 28 |
$4,551,714 |
$1,644,465
$204,827 |
$2,702,422 |
| 29 |
$4,779,324 |
$1,728,680
$215,070 |
$2,835,574 |
| 30 |
$5,018,274 |
$1,817,092
$225,822 |
$2,975,360 |
|
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