The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 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 those living in Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas Powerball Jackpot/Cash Option for Mon Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $59,637,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$0 |
$1,964,542 |
| 2 |
$3,208,212 |
$1,147,369
$0 |
$2,060,843 |
| 3 |
$3,368,582 |
$1,206,706
$0 |
$2,161,876 |
| 4 |
$3,537,072 |
$1,269,047
$0 |
$2,268,025 |
| 5 |
$3,713,885 |
$1,334,468
$0 |
$2,379,417 |
| 6 |
$3,899,630 |
$1,403,193
$0 |
$2,496,437 |
| 7 |
$4,094,510 |
$1,475,299
$0 |
$2,619,211 |
| 8 |
$4,299,337 |
$1,551,085
$0 |
$2,748,252 |
| 9 |
$4,514,314 |
$1,630,627
$0 |
$2,883,687 |
| 10 |
$4,740,050 |
$1,714,149
$0 |
$3,025,901 |
| 11 |
$4,976,951 |
$1,801,802
$0 |
$3,175,149 |
| 12 |
$5,225,829 |
$1,893,887
$0 |
$3,331,942 |
| 13 |
$5,487,090 |
$1,990,554
$0 |
$3,496,536 |
| 14 |
$5,761,546 |
$2,092,102
$0 |
$3,669,444 |
| 15 |
$6,049,603 |
$2,198,683
$0 |
$3,850,920 |
| 16 |
$6,352,073 |
$2,310,597
$0 |
$4,041,476 |
| 17 |
$6,669,565 |
$2,428,069
$0 |
$4,241,496 |
| 18 |
$7,003,094 |
$2,551,475
$0 |
$4,451,619 |
| 19 |
$7,353,269 |
$2,681,040
$0 |
$4,672,229 |
| 20 |
$7,720,902 |
$2,817,064
$0 |
$4,903,838 |
| 21 |
$8,107,008 |
$2,959,923
$0 |
$5,147,085 |
| 22 |
$8,512,399 |
$3,109,918
$0 |
$5,402,481 |
| 23 |
$8,937,887 |
$3,267,349
$0 |
$5,670,538 |
| 24 |
$9,384,893 |
$3,432,741
$0 |
$5,952,152 |
| 25 |
$9,854,026 |
$3,606,320
$0 |
$6,247,706 |
| 26 |
$10,346,910 |
$3,788,687
$0 |
$6,558,223 |
| 27 |
$10,864,154 |
$3,980,067
$0 |
$6,884,087 |
| 28 |
$11,407,382 |
$4,181,062
$0 |
$7,226,320 |
| 29 |
$11,977,812 |
$4,392,121
$0 |
$7,585,691 |
| 30 |
$12,576,662 |
$4,613,695
$0 |
$7,962,967 |
|
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