The jackpot for the Powerball draw on Sat Oct 17, 2026, is projected to be $600 Million, with an option for a cash payout of $246 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia Powerball Jackpot/Cash Option for Sat Oct 17, 2026 |
|---|
| Draw Date | Sat Oct 17, 2026 | | Projected Jackpot | $600,000,000 | | Cash Value | $246,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $246,000,000 | | Federal Tax(24%) | $59,040,000 | | Additional Federal Tax | $31,940,330 | | State Tax(5.75%) | $14,145,000 | | Net Lumpsum Payment | $140,874,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,030,600 |
$3,301,652
$519,260 |
$5,209,688 |
| 2 |
$9,482,400 |
$3,468,818
$545,238 |
$5,468,344 |
| 3 |
$9,956,400 |
$3,644,198
$572,493 |
$5,739,709 |
| 4 |
$10,454,400 |
$3,828,458
$601,128 |
$6,024,814 |
| 5 |
$10,977,000 |
$4,021,820
$631,178 |
$6,324,002 |
| 6 |
$11,526,000 |
$4,224,950
$662,745 |
$6,638,305 |
| 7 |
$12,102,000 |
$4,438,070
$695,865 |
$6,968,065 |
| 8 |
$12,707,400 |
$4,662,068
$730,676 |
$7,314,656 |
| 9 |
$13,342,800 |
$4,897,166
$767,211 |
$7,678,423 |
| 10 |
$14,010,000 |
$5,144,030
$805,575 |
$8,060,395 |
| 11 |
$14,710,200 |
$5,403,104
$845,837 |
$8,461,259 |
| 12 |
$15,445,800 |
$5,675,276
$888,134 |
$8,882,390 |
| 13 |
$16,218,000 |
$5,960,990
$932,535 |
$9,324,475 |
| 14 |
$17,029,200 |
$6,261,134
$979,179 |
$9,788,887 |
| 15 |
$17,880,600 |
$6,576,152
$1,028,135 |
$10,276,313 |
| 16 |
$18,774,600 |
$6,906,932
$1,079,540 |
$10,788,128 |
| 17 |
$19,713,000 |
$7,254,140
$1,133,498 |
$11,325,362 |
| 18 |
$20,698,800 |
$7,618,886
$1,190,181 |
$11,889,733 |
| 19 |
$21,733,800 |
$8,001,836
$1,249,694 |
$12,482,270 |
| 20 |
$22,820,400 |
$8,403,878
$1,312,173 |
$13,104,349 |
| 21 |
$23,961,600 |
$8,826,122
$1,377,792 |
$13,757,686 |
| 22 |
$25,159,800 |
$9,269,456
$1,446,689 |
$14,443,655 |
| 23 |
$26,417,400 |
$9,734,768
$1,519,001 |
$15,163,631 |
| 24 |
$27,738,600 |
$10,223,612
$1,594,970 |
$15,920,018 |
| 25 |
$29,125,200 |
$10,736,654
$1,674,699 |
$16,713,847 |
| 26 |
$30,582,000 |
$11,275,670
$1,758,465 |
$17,547,865 |
| 27 |
$32,110,800 |
$11,841,326
$1,846,371 |
$18,423,103 |
| 28 |
$33,716,400 |
$12,435,398
$1,938,693 |
$19,342,309 |
| 29 |
$35,402,400 |
$13,059,218
$2,035,638 |
$20,307,544 |
| 30 |
$37,172,400 |
$13,714,118
$2,137,413 |
$21,320,869 |
|
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