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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $905,650 | | Net Lumpsum Payment | $17,719,020 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$29,572 |
$616,954 |
| 2 |
$1,011,456 |
$334,569
$31,052 |
$645,835 |
| 3 |
$1,062,016 |
$353,276
$32,604 |
$676,136 |
| 4 |
$1,115,136 |
$372,931
$34,235 |
$707,970 |
| 5 |
$1,170,880 |
$393,556
$35,946 |
$741,378 |
| 6 |
$1,229,440 |
$415,223
$37,744 |
$776,473 |
| 7 |
$1,290,880 |
$437,956
$39,630 |
$813,294 |
| 8 |
$1,355,456 |
$461,849
$41,612 |
$851,995 |
| 9 |
$1,423,232 |
$486,926
$43,693 |
$892,613 |
| 10 |
$1,494,400 |
$513,258
$45,878 |
$935,264 |
| 11 |
$1,569,088 |
$540,893
$48,171 |
$980,024 |
| 12 |
$1,647,552 |
$569,925
$50,580 |
$1,027,047 |
| 13 |
$1,729,920 |
$600,401
$53,109 |
$1,076,410 |
| 14 |
$1,816,448 |
$632,416
$55,765 |
$1,128,267 |
| 15 |
$1,907,264 |
$666,018
$58,553 |
$1,182,693 |
| 16 |
$2,002,624 |
$701,301
$61,481 |
$1,239,842 |
| 17 |
$2,102,720 |
$738,337
$64,554 |
$1,299,829 |
| 18 |
$2,207,872 |
$777,243
$67,782 |
$1,362,847 |
| 19 |
$2,318,272 |
$818,091
$71,171 |
$1,429,010 |
| 20 |
$2,434,176 |
$860,976
$74,729 |
$1,498,471 |
| 21 |
$2,555,904 |
$906,015
$78,466 |
$1,571,423 |
| 22 |
$2,683,712 |
$953,304
$82,390 |
$1,648,018 |
| 23 |
$2,817,856 |
$1,002,937
$86,508 |
$1,728,411 |
| 24 |
$2,958,784 |
$1,055,080
$90,835 |
$1,812,869 |
| 25 |
$3,106,688 |
$1,109,805
$95,375 |
$1,901,508 |
| 26 |
$3,262,080 |
$1,167,300
$100,146 |
$1,994,634 |
| 27 |
$3,425,152 |
$1,227,637
$105,152 |
$2,092,363 |
| 28 |
$3,596,416 |
$1,291,004
$110,410 |
$2,195,002 |
| 29 |
$3,776,256 |
$1,357,545
$115,931 |
$2,302,780 |
| 30 |
$3,965,056 |
$1,427,401
$121,727 |
$2,415,928 |
|
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