The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 those living in South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.
| South Dakota Powerball Jackpot/Cash Option for Mon Feb 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $18,561,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$0 |
$656,008 |
| 2 |
$1,027,260 |
$340,417
$0 |
$686,843 |
| 3 |
$1,078,610 |
$359,416
$0 |
$719,194 |
| 4 |
$1,132,560 |
$379,378
$0 |
$753,182 |
| 5 |
$1,189,175 |
$400,325
$0 |
$788,850 |
| 6 |
$1,248,650 |
$422,331
$0 |
$826,319 |
| 7 |
$1,311,050 |
$445,419
$0 |
$865,631 |
| 8 |
$1,376,635 |
$469,685
$0 |
$906,950 |
| 9 |
$1,445,470 |
$495,154
$0 |
$950,316 |
| 10 |
$1,517,750 |
$521,898
$0 |
$995,852 |
| 11 |
$1,593,605 |
$549,964
$0 |
$1,043,641 |
| 12 |
$1,673,295 |
$579,450
$0 |
$1,093,845 |
| 13 |
$1,756,950 |
$610,402
$0 |
$1,146,548 |
| 14 |
$1,844,830 |
$642,917
$0 |
$1,201,913 |
| 15 |
$1,937,065 |
$677,044
$0 |
$1,260,021 |
| 16 |
$2,033,915 |
$712,879
$0 |
$1,321,036 |
| 17 |
$2,135,575 |
$750,493
$0 |
$1,385,082 |
| 18 |
$2,242,370 |
$790,007
$0 |
$1,452,363 |
| 19 |
$2,354,495 |
$831,494
$0 |
$1,523,001 |
| 20 |
$2,472,210 |
$875,048
$0 |
$1,597,162 |
| 21 |
$2,595,840 |
$920,791
$0 |
$1,675,049 |
| 22 |
$2,725,645 |
$968,819
$0 |
$1,756,826 |
| 23 |
$2,861,885 |
$1,019,228
$0 |
$1,842,657 |
| 24 |
$3,005,015 |
$1,072,186
$0 |
$1,932,829 |
| 25 |
$3,155,230 |
$1,127,765
$0 |
$2,027,465 |
| 26 |
$3,313,050 |
$1,186,159
$0 |
$2,126,891 |
| 27 |
$3,478,670 |
$1,247,438
$0 |
$2,231,232 |
| 28 |
$3,652,610 |
$1,311,796
$0 |
$2,340,814 |
| 29 |
$3,835,260 |
$1,379,377
$0 |
$2,455,883 |
| 30 |
$4,027,010 |
$1,450,324
$0 |
$2,576,686 |
|
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