The jackpot for the Powerball draw on Sat Jul 18, 2026, is projected to be $526 Million, with an option for a cash payout of $233.5 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 those living in Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas Powerball Jackpot/Cash Option for Sat Jul 18, 2026 |
|---|
| Draw Date | Sat Jul 18, 2026 | | Projected Jackpot | $526,000,000 | | Cash Value | $233,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $233,500,000 | | Federal Tax(24%) | $56,040,000 | | Additional Federal Tax | $30,315,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $147,144,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,916,826 |
$2,889,556
$0 |
$5,027,270 |
| 2 |
$8,312,904 |
$3,036,105
$0 |
$5,276,799 |
| 3 |
$8,728,444 |
$3,189,855
$0 |
$5,538,589 |
| 4 |
$9,165,024 |
$3,351,389
$0 |
$5,813,635 |
| 5 |
$9,623,170 |
$3,520,903
$0 |
$6,102,267 |
| 6 |
$10,104,460 |
$3,698,981
$0 |
$6,405,479 |
| 7 |
$10,609,420 |
$3,885,816
$0 |
$6,723,604 |
| 8 |
$11,140,154 |
$4,082,187
$0 |
$7,057,967 |
| 9 |
$11,697,188 |
$4,288,290
$0 |
$7,408,898 |
| 10 |
$12,282,100 |
$4,504,707
$0 |
$7,777,393 |
| 11 |
$12,895,942 |
$4,731,829
$0 |
$8,164,113 |
| 12 |
$13,540,818 |
$4,970,433
$0 |
$8,570,385 |
| 13 |
$14,217,780 |
$5,220,909
$0 |
$8,996,871 |
| 14 |
$14,928,932 |
$5,484,035
$0 |
$9,444,897 |
| 15 |
$15,675,326 |
$5,760,201
$0 |
$9,915,125 |
| 16 |
$16,459,066 |
$6,050,185
$0 |
$10,408,881 |
| 17 |
$17,281,730 |
$6,354,570
$0 |
$10,927,160 |
| 18 |
$18,145,948 |
$6,674,331
$0 |
$11,471,617 |
| 19 |
$19,053,298 |
$7,010,051
$0 |
$12,043,247 |
| 20 |
$20,005,884 |
$7,362,507
$0 |
$12,643,377 |
| 21 |
$21,006,336 |
$7,732,675
$0 |
$13,273,661 |
| 22 |
$22,056,758 |
$8,121,331
$0 |
$13,935,427 |
| 23 |
$23,159,254 |
$8,529,254
$0 |
$14,630,000 |
| 24 |
$24,317,506 |
$8,957,808
$0 |
$15,359,698 |
| 25 |
$25,533,092 |
$9,407,574
$0 |
$16,125,518 |
| 26 |
$26,810,220 |
$9,880,112
$0 |
$16,930,108 |
| 27 |
$28,150,468 |
$10,376,004
$0 |
$17,774,464 |
| 28 |
$29,558,044 |
$10,896,807
$0 |
$18,661,237 |
| 29 |
$31,036,104 |
$11,443,689
$0 |
$19,592,415 |
| 30 |
$32,587,804 |
$12,017,818
$0 |
$20,569,986 |
|
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