The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Wed Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(4.5%) | $6,660,000 | | Net Lumpsum Payment | $86,619,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$221,475 |
$2,918,851 |
| 2 |
$5,167,908 |
$1,872,456
$232,556 |
$3,062,896 |
| 3 |
$5,426,238 |
$1,968,038
$244,181 |
$3,214,019 |
| 4 |
$5,697,648 |
$2,068,460
$256,394 |
$3,372,794 |
| 5 |
$5,982,465 |
$2,173,842
$269,211 |
$3,539,412 |
| 6 |
$6,281,670 |
$2,284,548
$282,675 |
$3,714,447 |
| 7 |
$6,595,590 |
$2,400,699
$296,802 |
$3,898,089 |
| 8 |
$6,925,533 |
$2,522,778
$311,649 |
$4,091,106 |
| 9 |
$7,271,826 |
$2,650,906
$327,232 |
$4,293,688 |
| 10 |
$7,635,450 |
$2,785,447
$343,595 |
$4,506,408 |
| 11 |
$8,017,059 |
$2,926,642
$360,768 |
$4,729,649 |
| 12 |
$8,417,961 |
$3,074,976
$378,808 |
$4,964,177 |
| 13 |
$8,838,810 |
$3,230,690
$397,746 |
$5,210,374 |
| 14 |
$9,280,914 |
$3,394,269
$417,641 |
$5,469,004 |
| 15 |
$9,744,927 |
$3,565,953
$438,522 |
$5,740,452 |
| 16 |
$10,232,157 |
$3,746,228
$460,447 |
$6,025,482 |
| 17 |
$10,743,585 |
$3,935,457
$483,461 |
$6,324,667 |
| 18 |
$11,280,846 |
$4,134,243
$507,638 |
$6,638,965 |
| 19 |
$11,844,921 |
$4,342,951
$533,021 |
$6,968,949 |
| 20 |
$12,437,118 |
$4,562,064
$559,670 |
$7,315,384 |
| 21 |
$13,059,072 |
$4,792,187
$587,658 |
$7,679,227 |
| 22 |
$13,712,091 |
$5,033,804
$617,044 |
$8,061,243 |
| 23 |
$14,397,483 |
$5,287,399
$647,887 |
$8,462,197 |
| 24 |
$15,117,537 |
$5,553,819
$680,289 |
$8,883,429 |
| 25 |
$15,873,234 |
$5,833,427
$714,296 |
$9,325,511 |
| 26 |
$16,667,190 |
$6,127,191
$750,024 |
$9,789,975 |
| 27 |
$17,500,386 |
$6,435,473
$787,517 |
$10,277,396 |
| 28 |
$18,375,438 |
$6,759,242
$826,895 |
$10,789,301 |
| 29 |
$19,294,308 |
$7,099,224
$868,244 |
$11,326,840 |
| 30 |
$20,258,958 |
$7,456,145
$911,653 |
$11,891,160 |
|
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