The jackpot for the Powerball draw on Wed Jan 21, 2026, is projected to be $209 Million, with an option for a cash payout of $95.2 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Wed Jan 21, 2026 |
|---|
| Draw Date | Wed Jan 21, 2026 | | Projected Jackpot | $209,000,000 | | Cash Value | $95,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $95,200,000 | | Federal Tax(24%) | $22,848,000 | | Additional Federal Tax | $12,336,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $60,015,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,145,659 |
$1,124,224
$0 |
$2,021,435 |
| 2 |
$3,303,036 |
$1,182,454
$0 |
$2,120,582 |
| 3 |
$3,468,146 |
$1,243,544
$0 |
$2,224,602 |
| 4 |
$3,641,616 |
$1,307,728
$0 |
$2,333,888 |
| 5 |
$3,823,655 |
$1,375,083
$0 |
$2,448,572 |
| 6 |
$4,014,890 |
$1,445,840
$0 |
$2,569,050 |
| 7 |
$4,215,530 |
$1,520,076
$0 |
$2,695,454 |
| 8 |
$4,426,411 |
$1,598,102
$0 |
$2,828,309 |
| 9 |
$4,647,742 |
$1,679,995
$0 |
$2,967,747 |
| 10 |
$4,880,150 |
$1,765,986
$0 |
$3,114,164 |
| 11 |
$5,124,053 |
$1,856,230
$0 |
$3,267,823 |
| 12 |
$5,380,287 |
$1,951,037
$0 |
$3,429,250 |
| 13 |
$5,649,270 |
$2,050,560
$0 |
$3,598,710 |
| 14 |
$5,931,838 |
$2,155,110
$0 |
$3,776,728 |
| 15 |
$6,228,409 |
$2,264,842
$0 |
$3,963,567 |
| 16 |
$6,539,819 |
$2,380,063
$0 |
$4,159,756 |
| 17 |
$6,866,695 |
$2,501,008
$0 |
$4,365,687 |
| 18 |
$7,210,082 |
$2,628,061
$0 |
$4,582,021 |
| 19 |
$7,570,607 |
$2,761,455
$0 |
$4,809,152 |
| 20 |
$7,949,106 |
$2,901,500
$0 |
$5,047,606 |
| 21 |
$8,346,624 |
$3,048,581
$0 |
$5,298,043 |
| 22 |
$8,763,997 |
$3,203,009
$0 |
$5,560,988 |
| 23 |
$9,202,061 |
$3,365,093
$0 |
$5,836,968 |
| 24 |
$9,662,279 |
$3,535,374
$0 |
$6,126,905 |
| 25 |
$10,145,278 |
$3,714,083
$0 |
$6,431,195 |
| 26 |
$10,652,730 |
$3,901,840
$0 |
$6,750,890 |
| 27 |
$11,185,262 |
$4,098,877
$0 |
$7,086,385 |
| 28 |
$11,744,546 |
$4,305,812
$0 |
$7,438,734 |
| 29 |
$12,331,836 |
$4,523,110
$0 |
$7,808,726 |
| 30 |
$12,948,386 |
$4,751,233
$0 |
$8,197,153 |
|
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