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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $14,629,500 | | Net Lumpsum Payment | $190,223,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,258,148 |
$4,125,845
$506,617 |
$6,625,686 |
| 2 |
$11,821,392 |
$4,334,245
$531,963 |
$6,955,184 |
| 3 |
$12,412,312 |
$4,552,886
$558,554 |
$7,300,872 |
| 4 |
$13,033,152 |
$4,782,597
$586,492 |
$7,664,063 |
| 5 |
$13,684,660 |
$5,023,655
$615,810 |
$8,045,195 |
| 6 |
$14,369,080 |
$5,276,890
$646,609 |
$8,445,581 |
| 7 |
$15,087,160 |
$5,542,580
$678,922 |
$8,865,658 |
| 8 |
$15,841,892 |
$5,821,830
$712,885 |
$9,307,177 |
| 9 |
$16,634,024 |
$6,114,919
$748,531 |
$9,770,574 |
| 10 |
$17,465,800 |
$6,422,676
$785,961 |
$10,257,163 |
| 11 |
$18,338,716 |
$6,745,655
$825,242 |
$10,767,819 |
| 12 |
$19,255,764 |
$7,084,963
$866,509 |
$11,304,292 |
| 13 |
$20,218,440 |
$7,441,153
$909,830 |
$11,867,457 |
| 14 |
$21,229,736 |
$7,815,333
$955,338 |
$12,459,065 |
| 15 |
$22,291,148 |
$8,208,055
$1,003,102 |
$13,079,991 |
| 16 |
$23,405,668 |
$8,620,428
$1,053,255 |
$13,731,985 |
| 17 |
$24,575,540 |
$9,053,280
$1,105,899 |
$14,416,361 |
| 18 |
$25,804,504 |
$9,507,997
$1,161,203 |
$15,135,304 |
| 19 |
$27,094,804 |
$9,985,408
$1,219,266 |
$15,890,130 |
| 20 |
$28,449,432 |
$10,486,620
$1,280,224 |
$16,682,588 |
| 21 |
$29,872,128 |
$11,013,018
$1,344,246 |
$17,514,864 |
| 22 |
$31,365,884 |
$11,565,707
$1,411,465 |
$18,388,712 |
| 23 |
$32,933,692 |
$12,145,796
$1,482,016 |
$19,305,880 |
| 24 |
$34,580,788 |
$12,755,222
$1,556,135 |
$20,269,431 |
| 25 |
$36,309,416 |
$13,394,814
$1,633,924 |
$21,280,678 |
| 26 |
$38,125,560 |
$14,066,788
$1,715,650 |
$22,343,122 |
| 27 |
$40,031,464 |
$14,771,972
$1,801,416 |
$23,458,076 |
| 28 |
$42,033,112 |
$15,512,582
$1,891,490 |
$24,629,040 |
| 29 |
$44,134,992 |
$16,290,277
$1,986,075 |
$25,858,640 |
| 30 |
$46,341,592 |
$17,106,719
$2,085,372 |
$27,149,501 |
|
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