The jackpot for the Powerball draw on Wed Jul 15, 2026, is projected to be $498 Million, with an option for a cash payout of $221 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 Wed Jul 15, 2026 |
|---|
| Draw Date | Wed Jul 15, 2026 | | Projected Jackpot | $498,000,000 | | Cash Value | $221,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $221,000,000 | | Federal Tax(24%) | $53,040,000 | | Additional Federal Tax | $28,690,330 | | State Tax(8.82%) | $19,492,200 | | Net Lumpsum Payment | $119,777,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,495,398 |
$2,733,628
$661,094 |
$4,100,676 |
| 2 |
$7,870,392 |
$2,872,375
$694,169 |
$4,303,848 |
| 3 |
$8,263,812 |
$3,017,941
$728,868 |
$4,517,003 |
| 4 |
$8,677,152 |
$3,170,877
$765,325 |
$4,740,950 |
| 5 |
$9,110,910 |
$3,331,367
$803,582 |
$4,975,961 |
| 6 |
$9,566,580 |
$3,499,965
$843,772 |
$5,222,843 |
| 7 |
$10,044,660 |
$3,676,855
$885,939 |
$5,481,866 |
| 8 |
$10,547,142 |
$3,862,773
$930,258 |
$5,754,111 |
| 9 |
$11,074,524 |
$4,057,904
$976,773 |
$6,039,847 |
| 10 |
$11,628,300 |
$4,262,801
$1,025,616 |
$6,339,883 |
| 11 |
$12,209,466 |
$4,477,833
$1,076,875 |
$6,654,758 |
| 12 |
$12,820,014 |
$4,703,736
$1,130,725 |
$6,985,553 |
| 13 |
$13,460,940 |
$4,940,878
$1,187,255 |
$7,332,807 |
| 14 |
$14,134,236 |
$5,189,998
$1,246,640 |
$7,697,598 |
| 15 |
$14,840,898 |
$5,451,463
$1,308,967 |
$8,080,468 |
| 16 |
$15,582,918 |
$5,726,010
$1,374,413 |
$8,482,495 |
| 17 |
$16,361,790 |
$6,014,193
$1,443,110 |
$8,904,487 |
| 18 |
$17,180,004 |
$6,316,932
$1,515,276 |
$9,347,796 |
| 19 |
$18,039,054 |
$6,634,780
$1,591,045 |
$9,813,229 |
| 20 |
$18,940,932 |
$6,968,475
$1,670,590 |
$10,301,867 |
| 21 |
$19,888,128 |
$7,318,938
$1,754,133 |
$10,815,057 |
| 22 |
$20,882,634 |
$7,686,905
$1,841,848 |
$11,353,881 |
| 23 |
$21,926,442 |
$8,073,114
$1,933,912 |
$11,919,416 |
| 24 |
$23,023,038 |
$8,478,854
$2,030,632 |
$12,513,552 |
| 25 |
$24,173,916 |
$8,904,679
$2,132,139 |
$13,137,098 |
| 26 |
$25,383,060 |
$9,352,063
$2,238,786 |
$13,792,211 |
| 27 |
$26,651,964 |
$9,821,557
$2,350,703 |
$14,479,704 |
| 28 |
$27,984,612 |
$10,314,637
$2,468,243 |
$15,201,732 |
| 29 |
$29,383,992 |
$10,832,407
$2,591,668 |
$15,959,917 |
| 30 |
$30,853,092 |
$11,375,974
$2,721,243 |
$16,755,875 |
|
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