The jackpot for the Powerball draw on Wed Jan 28, 2026, is projected to be $43 Million, with an option for a cash payout of $19.4 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio Powerball Jackpot/Cash Option for Wed Jan 28, 2026 |
|---|
| Draw Date | Wed Jan 28, 2026 | | Projected Jackpot | $43,000,000 | | Cash Value | $19,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $19,400,000 | | Federal Tax(24%) | $4,656,000 | | Additional Federal Tax | $2,482,330 | | State Tax(3.99%) | $774,060 | | Net Lumpsum Payment | $11,487,610 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$25,823 |
$421,578 |
| 2 |
$679,572 |
$211,772
$27,115 |
$440,685 |
| 3 |
$713,542 |
$224,341
$28,470 |
$460,731 |
| 4 |
$749,232 |
$237,546
$29,894 |
$481,792 |
| 5 |
$786,685 |
$251,404
$31,389 |
$503,892 |
| 6 |
$826,030 |
$265,961
$32,959 |
$527,110 |
| 7 |
$867,310 |
$281,235
$34,606 |
$551,469 |
| 8 |
$910,697 |
$297,288
$36,337 |
$577,072 |
| 9 |
$956,234 |
$314,137
$38,154 |
$603,943 |
| 10 |
$1,004,050 |
$331,829
$40,062 |
$632,159 |
| 11 |
$1,054,231 |
$350,396
$42,064 |
$661,771 |
| 12 |
$1,106,949 |
$369,902
$44,167 |
$692,880 |
| 13 |
$1,162,290 |
$390,378
$46,375 |
$725,537 |
| 14 |
$1,220,426 |
$411,888
$48,695 |
$759,843 |
| 15 |
$1,281,443 |
$434,464
$51,130 |
$795,849 |
| 16 |
$1,345,513 |
$458,170
$53,686 |
$833,657 |
| 17 |
$1,412,765 |
$483,053
$56,369 |
$873,343 |
| 18 |
$1,483,414 |
$509,194
$59,188 |
$915,032 |
| 19 |
$1,557,589 |
$536,638
$62,148 |
$958,803 |
| 20 |
$1,635,462 |
$565,451
$65,255 |
$1,004,756 |
| 21 |
$1,717,248 |
$595,712
$68,518 |
$1,053,018 |
| 22 |
$1,803,119 |
$627,484
$71,944 |
$1,103,691 |
| 23 |
$1,893,247 |
$660,832
$75,541 |
$1,156,874 |
| 24 |
$1,987,933 |
$695,866
$79,319 |
$1,212,748 |
| 25 |
$2,087,306 |
$732,634
$83,284 |
$1,271,388 |
| 26 |
$2,191,710 |
$771,263
$87,449 |
$1,332,998 |
| 27 |
$2,301,274 |
$811,802
$91,821 |
$1,397,651 |
| 28 |
$2,416,342 |
$854,377
$96,412 |
$1,465,553 |
| 29 |
$2,537,172 |
$899,084
$101,233 |
$1,536,855 |
| 30 |
$2,664,022 |
$946,019
$106,294 |
$1,611,709 |
|
|
