The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(8.82%) | $13,053,600 | | Net Lumpsum Payment | $80,226,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$434,092 |
$2,706,234 |
| 2 |
$5,167,908 |
$1,872,456
$455,809 |
$2,839,643 |
| 3 |
$5,426,238 |
$1,968,038
$478,594 |
$2,979,606 |
| 4 |
$5,697,648 |
$2,068,460
$502,533 |
$3,126,655 |
| 5 |
$5,982,465 |
$2,173,842
$527,653 |
$3,280,970 |
| 6 |
$6,281,670 |
$2,284,548
$554,043 |
$3,443,079 |
| 7 |
$6,595,590 |
$2,400,699
$581,731 |
$3,613,160 |
| 8 |
$6,925,533 |
$2,522,778
$610,832 |
$3,791,923 |
| 9 |
$7,271,826 |
$2,650,906
$641,375 |
$3,979,545 |
| 10 |
$7,635,450 |
$2,785,447
$673,447 |
$4,176,556 |
| 11 |
$8,017,059 |
$2,926,642
$707,105 |
$4,383,312 |
| 12 |
$8,417,961 |
$3,074,976
$742,464 |
$4,600,521 |
| 13 |
$8,838,810 |
$3,230,690
$779,583 |
$4,828,537 |
| 14 |
$9,280,914 |
$3,394,269
$818,577 |
$5,068,068 |
| 15 |
$9,744,927 |
$3,565,953
$859,503 |
$5,319,471 |
| 16 |
$10,232,157 |
$3,746,228
$902,476 |
$5,583,453 |
| 17 |
$10,743,585 |
$3,935,457
$947,584 |
$5,860,544 |
| 18 |
$11,280,846 |
$4,134,243
$994,971 |
$6,151,632 |
| 19 |
$11,844,921 |
$4,342,951
$1,044,722 |
$6,457,248 |
| 20 |
$12,437,118 |
$4,562,064
$1,096,954 |
$6,778,100 |
| 21 |
$13,059,072 |
$4,792,187
$1,151,810 |
$7,115,075 |
| 22 |
$13,712,091 |
$5,033,804
$1,209,406 |
$7,468,881 |
| 23 |
$14,397,483 |
$5,287,399
$1,269,858 |
$7,840,226 |
| 24 |
$15,117,537 |
$5,553,819
$1,333,367 |
$8,230,351 |
| 25 |
$15,873,234 |
$5,833,427
$1,400,019 |
$8,639,788 |
| 26 |
$16,667,190 |
$6,127,191
$1,470,046 |
$9,069,953 |
| 27 |
$17,500,386 |
$6,435,473
$1,543,534 |
$9,521,379 |
| 28 |
$18,375,438 |
$6,759,242
$1,620,714 |
$9,995,482 |
| 29 |
$19,294,308 |
$7,099,224
$1,701,758 |
$10,493,326 |
| 30 |
$20,258,958 |
$7,456,145
$1,786,840 |
$11,015,973 |
|
|
