The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 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 Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(4.75%) | $4,493,500 | | Net Lumpsum Payment | $55,144,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$145,129 |
$1,819,413 |
| 2 |
$3,208,212 |
$1,147,369
$152,390 |
$1,908,453 |
| 3 |
$3,368,582 |
$1,206,706
$160,008 |
$2,001,868 |
| 4 |
$3,537,072 |
$1,269,047
$168,011 |
$2,100,014 |
| 5 |
$3,713,885 |
$1,334,468
$176,410 |
$2,203,007 |
| 6 |
$3,899,630 |
$1,403,193
$185,232 |
$2,311,205 |
| 7 |
$4,094,510 |
$1,475,299
$194,489 |
$2,424,722 |
| 8 |
$4,299,337 |
$1,551,085
$204,219 |
$2,544,033 |
| 9 |
$4,514,314 |
$1,630,627
$214,430 |
$2,669,257 |
| 10 |
$4,740,050 |
$1,714,149
$225,152 |
$2,800,749 |
| 11 |
$4,976,951 |
$1,801,802
$236,405 |
$2,938,744 |
| 12 |
$5,225,829 |
$1,893,887
$248,227 |
$3,083,715 |
| 13 |
$5,487,090 |
$1,990,554
$260,637 |
$3,235,899 |
| 14 |
$5,761,546 |
$2,092,102
$273,673 |
$3,395,771 |
| 15 |
$6,049,603 |
$2,198,683
$287,356 |
$3,563,564 |
| 16 |
$6,352,073 |
$2,310,597
$301,723 |
$3,739,753 |
| 17 |
$6,669,565 |
$2,428,069
$316,804 |
$3,924,692 |
| 18 |
$7,003,094 |
$2,551,475
$332,647 |
$4,118,972 |
| 19 |
$7,353,269 |
$2,681,040
$349,280 |
$4,322,949 |
| 20 |
$7,720,902 |
$2,817,064
$366,743 |
$4,537,095 |
| 21 |
$8,107,008 |
$2,959,923
$385,083 |
$4,762,002 |
| 22 |
$8,512,399 |
$3,109,918
$404,339 |
$4,998,142 |
| 23 |
$8,937,887 |
$3,267,349
$424,550 |
$5,245,988 |
| 24 |
$9,384,893 |
$3,432,741
$445,782 |
$5,506,370 |
| 25 |
$9,854,026 |
$3,606,320
$468,066 |
$5,779,640 |
| 26 |
$10,346,910 |
$3,788,687
$491,478 |
$6,066,745 |
| 27 |
$10,864,154 |
$3,980,067
$516,047 |
$6,368,040 |
| 28 |
$11,407,382 |
$4,181,062
$541,851 |
$6,684,469 |
| 29 |
$11,977,812 |
$4,392,121
$568,946 |
$7,016,745 |
| 30 |
$12,576,662 |
$4,613,695
$597,391 |
$7,365,576 |
|
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