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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $8,343,720 | | Net Lumpsum Payment | $51,293,950 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$269,482 |
$1,695,060 |
| 2 |
$3,208,212 |
$1,147,369
$282,964 |
$1,777,879 |
| 3 |
$3,368,582 |
$1,206,706
$297,109 |
$1,864,767 |
| 4 |
$3,537,072 |
$1,269,047
$311,970 |
$1,956,055 |
| 5 |
$3,713,885 |
$1,334,468
$327,565 |
$2,051,852 |
| 6 |
$3,899,630 |
$1,403,193
$343,947 |
$2,152,490 |
| 7 |
$4,094,510 |
$1,475,299
$361,136 |
$2,258,075 |
| 8 |
$4,299,337 |
$1,551,085
$379,202 |
$2,369,050 |
| 9 |
$4,514,314 |
$1,630,627
$398,162 |
$2,485,525 |
| 10 |
$4,740,050 |
$1,714,149
$418,072 |
$2,607,829 |
| 11 |
$4,976,951 |
$1,801,802
$438,967 |
$2,736,182 |
| 12 |
$5,225,829 |
$1,893,887
$460,918 |
$2,871,024 |
| 13 |
$5,487,090 |
$1,990,554
$483,961 |
$3,012,575 |
| 14 |
$5,761,546 |
$2,092,102
$508,168 |
$3,161,276 |
| 15 |
$6,049,603 |
$2,198,683
$533,575 |
$3,317,345 |
| 16 |
$6,352,073 |
$2,310,597
$560,253 |
$3,481,223 |
| 17 |
$6,669,565 |
$2,428,069
$588,256 |
$3,653,240 |
| 18 |
$7,003,094 |
$2,551,475
$617,673 |
$3,833,946 |
| 19 |
$7,353,269 |
$2,681,040
$648,558 |
$4,023,671 |
| 20 |
$7,720,902 |
$2,817,064
$680,984 |
$4,222,854 |
| 21 |
$8,107,008 |
$2,959,923
$715,038 |
$4,432,047 |
| 22 |
$8,512,399 |
$3,109,918
$750,794 |
$4,651,687 |
| 23 |
$8,937,887 |
$3,267,349
$788,322 |
$4,882,216 |
| 24 |
$9,384,893 |
$3,432,741
$827,748 |
$5,124,404 |
| 25 |
$9,854,026 |
$3,606,320
$869,125 |
$5,378,581 |
| 26 |
$10,346,910 |
$3,788,687
$912,597 |
$5,645,626 |
| 27 |
$10,864,154 |
$3,980,067
$958,218 |
$5,925,869 |
| 28 |
$11,407,382 |
$4,181,062
$1,006,131 |
$6,220,189 |
| 29 |
$11,977,812 |
$4,392,121
$1,056,443 |
$6,529,248 |
| 30 |
$12,576,662 |
$4,613,695
$1,109,262 |
$6,853,705 |
|
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