The jackpot for the Powerball draw on Sat Jan 3, 2026, is projected to be $64 Million, with an option for a cash payout of $29.5 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 Sat Jan 3, 2026 |
|---|
| Draw Date | Sat Jan 3, 2026 | | Projected Jackpot | $64,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(3.99%) | $1,177,050 | | Net Lumpsum Payment | $17,447,620 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$38,434 |
$608,092 |
| 2 |
$1,011,456 |
$334,569
$40,357 |
$636,530 |
| 3 |
$1,062,016 |
$353,276
$42,374 |
$666,366 |
| 4 |
$1,115,136 |
$372,931
$44,494 |
$697,711 |
| 5 |
$1,170,880 |
$393,556
$46,718 |
$730,606 |
| 6 |
$1,229,440 |
$415,223
$49,055 |
$765,162 |
| 7 |
$1,290,880 |
$437,956
$51,506 |
$801,418 |
| 8 |
$1,355,456 |
$461,849
$54,083 |
$839,524 |
| 9 |
$1,423,232 |
$486,926
$56,787 |
$879,519 |
| 10 |
$1,494,400 |
$513,258
$59,627 |
$921,515 |
| 11 |
$1,569,088 |
$540,893
$62,607 |
$965,588 |
| 12 |
$1,647,552 |
$569,925
$65,737 |
$1,011,890 |
| 13 |
$1,729,920 |
$600,401
$69,024 |
$1,060,495 |
| 14 |
$1,816,448 |
$632,416
$72,476 |
$1,111,556 |
| 15 |
$1,907,264 |
$666,018
$76,100 |
$1,165,146 |
| 16 |
$2,002,624 |
$701,301
$79,905 |
$1,221,418 |
| 17 |
$2,102,720 |
$738,337
$83,899 |
$1,280,484 |
| 18 |
$2,207,872 |
$777,243
$88,094 |
$1,342,535 |
| 19 |
$2,318,272 |
$818,091
$92,499 |
$1,407,682 |
| 20 |
$2,434,176 |
$860,976
$97,124 |
$1,476,076 |
| 21 |
$2,555,904 |
$906,015
$101,981 |
$1,547,908 |
| 22 |
$2,683,712 |
$953,304
$107,080 |
$1,623,328 |
| 23 |
$2,817,856 |
$1,002,937
$112,432 |
$1,702,487 |
| 24 |
$2,958,784 |
$1,055,080
$118,055 |
$1,785,649 |
| 25 |
$3,106,688 |
$1,109,805
$123,957 |
$1,872,926 |
| 26 |
$3,262,080 |
$1,167,300
$130,157 |
$1,964,623 |
| 27 |
$3,425,152 |
$1,227,637
$136,664 |
$2,060,851 |
| 28 |
$3,596,416 |
$1,291,004
$143,497 |
$2,161,915 |
| 29 |
$3,776,256 |
$1,357,545
$150,673 |
$2,268,038 |
| 30 |
$3,965,056 |
$1,427,401
$158,206 |
$2,379,449 |
|
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