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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina 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(4.75%) | $15,442,250 | | Net Lumpsum Payment | $189,410,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,258,148 |
$4,125,845
$534,762 |
$6,597,541 |
| 2 |
$11,821,392 |
$4,334,245
$561,516 |
$6,925,631 |
| 3 |
$12,412,312 |
$4,552,886
$589,585 |
$7,269,841 |
| 4 |
$13,033,152 |
$4,782,597
$619,075 |
$7,631,480 |
| 5 |
$13,684,660 |
$5,023,655
$650,021 |
$8,010,984 |
| 6 |
$14,369,080 |
$5,276,890
$682,531 |
$8,409,659 |
| 7 |
$15,087,160 |
$5,542,580
$716,640 |
$8,827,940 |
| 8 |
$15,841,892 |
$5,821,830
$752,490 |
$9,267,572 |
| 9 |
$16,634,024 |
$6,114,919
$790,116 |
$9,728,989 |
| 10 |
$17,465,800 |
$6,422,676
$829,626 |
$10,213,498 |
| 11 |
$18,338,716 |
$6,745,655
$871,089 |
$10,721,972 |
| 12 |
$19,255,764 |
$7,084,963
$914,649 |
$11,256,152 |
| 13 |
$20,218,440 |
$7,441,153
$960,376 |
$11,816,911 |
| 14 |
$21,229,736 |
$7,815,333
$1,008,412 |
$12,405,991 |
| 15 |
$22,291,148 |
$8,208,055
$1,058,830 |
$13,024,263 |
| 16 |
$23,405,668 |
$8,620,428
$1,111,769 |
$13,673,471 |
| 17 |
$24,575,540 |
$9,053,280
$1,167,338 |
$14,354,922 |
| 18 |
$25,804,504 |
$9,507,997
$1,225,714 |
$15,070,793 |
| 19 |
$27,094,804 |
$9,985,408
$1,287,003 |
$15,822,393 |
| 20 |
$28,449,432 |
$10,486,620
$1,351,348 |
$16,611,464 |
| 21 |
$29,872,128 |
$11,013,018
$1,418,926 |
$17,440,184 |
| 22 |
$31,365,884 |
$11,565,707
$1,489,879 |
$18,310,298 |
| 23 |
$32,933,692 |
$12,145,796
$1,564,350 |
$19,223,546 |
| 24 |
$34,580,788 |
$12,755,222
$1,642,587 |
$20,182,979 |
| 25 |
$36,309,416 |
$13,394,814
$1,724,697 |
$21,189,905 |
| 26 |
$38,125,560 |
$14,066,788
$1,810,964 |
$22,247,808 |
| 27 |
$40,031,464 |
$14,771,972
$1,901,495 |
$23,357,997 |
| 28 |
$42,033,112 |
$15,512,582
$1,996,573 |
$24,523,957 |
| 29 |
$44,134,992 |
$16,290,277
$2,096,412 |
$25,748,303 |
| 30 |
$46,341,592 |
$17,106,719
$2,201,226 |
$27,033,647 |
|
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