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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $5,905,200 | | Net Lumpsum Payment | $87,374,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$196,375 |
$2,943,951 |
| 2 |
$5,167,908 |
$1,872,456
$206,200 |
$3,089,252 |
| 3 |
$5,426,238 |
$1,968,038
$216,507 |
$3,241,693 |
| 4 |
$5,697,648 |
$2,068,460
$227,336 |
$3,401,852 |
| 5 |
$5,982,465 |
$2,173,842
$238,700 |
$3,569,923 |
| 6 |
$6,281,670 |
$2,284,548
$250,639 |
$3,746,483 |
| 7 |
$6,595,590 |
$2,400,699
$263,164 |
$3,931,727 |
| 8 |
$6,925,533 |
$2,522,778
$276,329 |
$4,126,426 |
| 9 |
$7,271,826 |
$2,650,906
$290,146 |
$4,330,774 |
| 10 |
$7,635,450 |
$2,785,447
$304,654 |
$4,545,349 |
| 11 |
$8,017,059 |
$2,926,642
$319,881 |
$4,770,536 |
| 12 |
$8,417,961 |
$3,074,976
$335,877 |
$5,007,108 |
| 13 |
$8,838,810 |
$3,230,690
$352,669 |
$5,255,451 |
| 14 |
$9,280,914 |
$3,394,269
$370,308 |
$5,516,337 |
| 15 |
$9,744,927 |
$3,565,953
$388,823 |
$5,790,151 |
| 16 |
$10,232,157 |
$3,746,228
$408,263 |
$6,077,666 |
| 17 |
$10,743,585 |
$3,935,457
$428,669 |
$6,379,459 |
| 18 |
$11,280,846 |
$4,134,243
$450,106 |
$6,696,497 |
| 19 |
$11,844,921 |
$4,342,951
$472,612 |
$7,029,358 |
| 20 |
$12,437,118 |
$4,562,064
$496,241 |
$7,378,813 |
| 21 |
$13,059,072 |
$4,792,187
$521,057 |
$7,745,828 |
| 22 |
$13,712,091 |
$5,033,804
$547,112 |
$8,131,175 |
| 23 |
$14,397,483 |
$5,287,399
$574,460 |
$8,535,624 |
| 24 |
$15,117,537 |
$5,553,819
$603,190 |
$8,960,528 |
| 25 |
$15,873,234 |
$5,833,427
$633,342 |
$9,406,465 |
| 26 |
$16,667,190 |
$6,127,191
$665,021 |
$9,874,978 |
| 27 |
$17,500,386 |
$6,435,473
$698,265 |
$10,366,648 |
| 28 |
$18,375,438 |
$6,759,242
$733,180 |
$10,883,016 |
| 29 |
$19,294,308 |
$7,099,224
$769,843 |
$11,425,241 |
| 30 |
$20,258,958 |
$7,456,145
$808,332 |
$11,994,481 |
|
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