The jackpot for the Powerball draw on Mon Oct 12, 2026, is projected to be $538 Million, with an option for a cash payout of $220.6 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 Oct 12, 2026 |
|---|
| Draw Date | Mon Oct 12, 2026 | | Projected Jackpot | $538,000,000 | | Cash Value | $220,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $220,600,000 | | Federal Tax(24%) | $52,944,000 | | Additional Federal Tax | $28,638,330 | | State Tax(8.82%) | $19,456,920 | | Net Lumpsum Payment | $119,560,750 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,097,438 |
$2,956,382
$714,194 |
$4,426,862 |
| 2 |
$8,502,552 |
$3,106,275
$749,925 |
$4,646,352 |
| 3 |
$8,927,572 |
$3,263,532
$787,412 |
$4,876,628 |
| 4 |
$9,374,112 |
$3,428,752
$826,797 |
$5,118,563 |
| 5 |
$9,842,710 |
$3,602,133
$868,127 |
$5,372,450 |
| 6 |
$10,334,980 |
$3,784,273
$911,545 |
$5,639,162 |
| 7 |
$10,851,460 |
$3,975,371
$957,099 |
$5,918,990 |
| 8 |
$11,394,302 |
$4,176,222
$1,004,977 |
$6,213,103 |
| 9 |
$11,964,044 |
$4,387,027
$1,055,229 |
$6,521,788 |
| 10 |
$12,562,300 |
$4,608,381
$1,107,995 |
$6,845,924 |
| 11 |
$13,190,146 |
$4,840,684
$1,163,371 |
$7,186,091 |
| 12 |
$13,849,734 |
$5,084,732
$1,221,547 |
$7,543,455 |
| 13 |
$14,542,140 |
$5,340,922
$1,282,617 |
$7,918,601 |
| 14 |
$15,269,516 |
$5,610,051
$1,346,771 |
$8,312,694 |
| 15 |
$16,032,938 |
$5,892,517
$1,414,105 |
$8,726,316 |
| 16 |
$16,834,558 |
$6,189,117
$1,484,808 |
$9,160,633 |
| 17 |
$17,675,990 |
$6,500,447
$1,559,022 |
$9,616,521 |
| 18 |
$18,559,924 |
$6,827,502
$1,636,985 |
$10,095,437 |
| 19 |
$19,487,974 |
$7,170,881
$1,718,839 |
$10,598,254 |
| 20 |
$20,462,292 |
$7,531,378
$1,804,774 |
$11,126,140 |
| 21 |
$21,485,568 |
$7,909,991
$1,895,027 |
$11,680,550 |
| 22 |
$22,559,954 |
$8,307,513
$1,989,788 |
$12,262,653 |
| 23 |
$23,687,602 |
$8,724,743
$2,089,246 |
$12,873,613 |
| 24 |
$24,872,278 |
$9,163,073
$2,193,735 |
$13,515,470 |
| 25 |
$26,115,596 |
$9,623,101
$2,303,396 |
$14,189,099 |
| 26 |
$27,421,860 |
$10,106,419
$2,418,608 |
$14,896,833 |
| 27 |
$28,792,684 |
$10,613,623
$2,539,515 |
$15,639,546 |
| 28 |
$30,232,372 |
$11,146,308
$2,666,495 |
$16,419,569 |
| 29 |
$31,744,152 |
$11,705,667
$2,799,834 |
$17,238,651 |
| 30 |
$33,331,252 |
$12,292,894
$2,939,816 |
$18,098,542 |
|
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