The jackpot for the Powerball draw on Mon Oct 12, 2026, is projected to be $538 Million, with an option for a cash payout of $220.6 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana Powerball Jackpot/Cash Option for Mon Oct 12, 2026 |
|---|
| Draw Date | Mon Oct 12, 2026 | | Projected Jackpot | $538,000,000 | | Cash Value | $220,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $220,600,000 | | Federal Tax(24%) | $52,944,000 | | Additional Federal Tax | $28,638,330 | | State Tax(6.75%) | $14,890,500 | | Net Lumpsum Payment | $124,127,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,097,438 |
$2,956,382
$546,577 |
$4,594,479 |
| 2 |
$8,502,552 |
$3,106,275
$573,922 |
$4,822,355 |
| 3 |
$8,927,572 |
$3,263,532
$602,611 |
$5,061,429 |
| 4 |
$9,374,112 |
$3,428,752
$632,753 |
$5,312,607 |
| 5 |
$9,842,710 |
$3,602,133
$664,383 |
$5,576,194 |
| 6 |
$10,334,980 |
$3,784,273
$697,611 |
$5,853,096 |
| 7 |
$10,851,460 |
$3,975,371
$732,474 |
$6,143,615 |
| 8 |
$11,394,302 |
$4,176,222
$769,115 |
$6,448,965 |
| 9 |
$11,964,044 |
$4,387,027
$807,573 |
$6,769,444 |
| 10 |
$12,562,300 |
$4,608,381
$847,955 |
$7,105,964 |
| 11 |
$13,190,146 |
$4,840,684
$890,335 |
$7,459,127 |
| 12 |
$13,849,734 |
$5,084,732
$934,857 |
$7,830,145 |
| 13 |
$14,542,140 |
$5,340,922
$981,594 |
$8,219,624 |
| 14 |
$15,269,516 |
$5,610,051
$1,030,692 |
$8,628,773 |
| 15 |
$16,032,938 |
$5,892,517
$1,082,223 |
$9,058,198 |
| 16 |
$16,834,558 |
$6,189,117
$1,136,333 |
$9,509,108 |
| 17 |
$17,675,990 |
$6,500,447
$1,193,129 |
$9,982,414 |
| 18 |
$18,559,924 |
$6,827,502
$1,252,795 |
$10,479,627 |
| 19 |
$19,487,974 |
$7,170,881
$1,315,438 |
$11,001,655 |
| 20 |
$20,462,292 |
$7,531,378
$1,381,205 |
$11,549,709 |
| 21 |
$21,485,568 |
$7,909,991
$1,450,276 |
$12,125,301 |
| 22 |
$22,559,954 |
$8,307,513
$1,522,797 |
$12,729,644 |
| 23 |
$23,687,602 |
$8,724,743
$1,598,913 |
$13,363,946 |
| 24 |
$24,872,278 |
$9,163,073
$1,678,879 |
$14,030,326 |
| 25 |
$26,115,596 |
$9,623,101
$1,762,803 |
$14,729,692 |
| 26 |
$27,421,860 |
$10,106,419
$1,850,976 |
$15,464,465 |
| 27 |
$28,792,684 |
$10,613,623
$1,943,506 |
$16,235,555 |
| 28 |
$30,232,372 |
$11,146,308
$2,040,685 |
$17,045,379 |
| 29 |
$31,744,152 |
$11,705,667
$2,142,730 |
$17,895,755 |
| 30 |
$33,331,252 |
$12,292,894
$2,249,860 |
$18,788,498 |
|
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