The jackpot for the Powerball draw on Wed Aug 19, 2026, is projected to be $48 Million, with an option for a cash payout of $20.8 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma Powerball Jackpot/Cash Option for Wed Aug 19, 2026 |
|---|
| Draw Date | Wed Aug 19, 2026 | | Projected Jackpot | $48,000,000 | | Cash Value | $20,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,800,000 | | Federal Tax(24%) | $4,992,000 | | Additional Federal Tax | $2,664,330 | | State Tax(4.75%) | $988,000 | | Net Lumpsum Payment | $12,155,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$722,448 |
$227,636
$34,316 |
$460,496 |
| 2 |
$758,592 |
$241,009
$36,033 |
$481,550 |
| 3 |
$796,512 |
$255,040
$37,834 |
$503,638 |
| 4 |
$836,352 |
$269,781
$39,727 |
$526,844 |
| 5 |
$878,160 |
$285,250
$41,713 |
$551,197 |
| 6 |
$922,080 |
$301,500
$43,799 |
$576,781 |
| 7 |
$968,160 |
$318,550
$45,988 |
$603,622 |
| 8 |
$1,016,592 |
$336,469
$48,288 |
$631,835 |
| 9 |
$1,067,424 |
$355,277
$50,703 |
$661,444 |
| 10 |
$1,120,800 |
$375,026
$53,238 |
$692,536 |
| 11 |
$1,176,816 |
$395,752
$55,899 |
$725,165 |
| 12 |
$1,235,664 |
$417,526
$58,694 |
$759,444 |
| 13 |
$1,297,440 |
$440,383
$61,628 |
$795,429 |
| 14 |
$1,362,336 |
$464,395
$64,711 |
$833,230 |
| 15 |
$1,430,448 |
$489,596
$67,946 |
$872,906 |
| 16 |
$1,501,968 |
$516,059
$71,343 |
$914,566 |
| 17 |
$1,577,040 |
$543,835
$74,909 |
$958,296 |
| 18 |
$1,655,904 |
$573,015
$78,655 |
$1,004,234 |
| 19 |
$1,738,704 |
$603,651
$82,588 |
$1,052,465 |
| 20 |
$1,825,632 |
$635,814
$86,718 |
$1,103,100 |
| 21 |
$1,916,928 |
$669,594
$91,054 |
$1,156,280 |
| 22 |
$2,012,784 |
$705,060
$95,607 |
$1,212,117 |
| 23 |
$2,113,392 |
$742,285
$100,386 |
$1,270,721 |
| 24 |
$2,219,088 |
$781,393
$105,407 |
$1,332,288 |
| 25 |
$2,330,016 |
$822,436
$110,676 |
$1,396,904 |
| 26 |
$2,446,560 |
$865,558
$116,212 |
$1,464,790 |
| 27 |
$2,568,864 |
$910,810
$122,021 |
$1,536,033 |
| 28 |
$2,697,312 |
$958,336
$128,122 |
$1,610,854 |
| 29 |
$2,832,192 |
$1,008,241
$134,529 |
$1,689,422 |
| 30 |
$2,973,792 |
$1,060,633
$141,255 |
$1,771,904 |
|
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