The jackpot for the Powerball draw on Sat Jan 10, 2026, is projected to be $124 Million, with an option for a cash payout of $56 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 California, the bright side is you won't have to pay any state taxes on your lottery prize.
| California Powerball Jackpot/Cash Option for Sat Jan 10, 2026 |
|---|
| Draw Date | Sat Jan 10, 2026 | | Projected Jackpot | $124,000,000 | | Cash Value | $56,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $56,000,000 | | Federal Tax(24%) | $13,440,000 | | Additional Federal Tax | $7,240,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $35,319,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,866,324 |
$650,870
$0 |
$1,215,454 |
| 2 |
$1,959,696 |
$685,418
$0 |
$1,274,278 |
| 3 |
$2,057,656 |
$721,663
$0 |
$1,335,993 |
| 4 |
$2,160,576 |
$759,744
$0 |
$1,400,832 |
| 5 |
$2,268,580 |
$799,705
$0 |
$1,468,875 |
| 6 |
$2,382,040 |
$841,685
$0 |
$1,540,355 |
| 7 |
$2,501,080 |
$885,730
$0 |
$1,615,350 |
| 8 |
$2,626,196 |
$932,023
$0 |
$1,694,173 |
| 9 |
$2,757,512 |
$980,610
$0 |
$1,776,902 |
| 10 |
$2,895,400 |
$1,031,628
$0 |
$1,863,772 |
| 11 |
$3,040,108 |
$1,085,170
$0 |
$1,954,938 |
| 12 |
$3,192,132 |
$1,141,419
$0 |
$2,050,713 |
| 13 |
$3,351,720 |
$1,200,467
$0 |
$2,151,253 |
| 14 |
$3,519,368 |
$1,262,497
$0 |
$2,256,871 |
| 15 |
$3,695,324 |
$1,327,600
$0 |
$2,367,724 |
| 16 |
$3,880,084 |
$1,395,961
$0 |
$2,484,123 |
| 17 |
$4,074,020 |
$1,467,718
$0 |
$2,606,302 |
| 18 |
$4,277,752 |
$1,543,099
$0 |
$2,734,653 |
| 19 |
$4,491,652 |
$1,622,242
$0 |
$2,869,410 |
| 20 |
$4,716,216 |
$1,705,330
$0 |
$3,010,886 |
| 21 |
$4,952,064 |
$1,792,594
$0 |
$3,159,470 |
| 22 |
$5,199,692 |
$1,884,216
$0 |
$3,315,476 |
| 23 |
$5,459,596 |
$1,980,381
$0 |
$3,479,215 |
| 24 |
$5,732,644 |
$2,081,409
$0 |
$3,651,235 |
| 25 |
$6,019,208 |
$2,187,437
$0 |
$3,831,771 |
| 26 |
$6,320,280 |
$2,298,834
$0 |
$4,021,446 |
| 27 |
$6,636,232 |
$2,415,736
$0 |
$4,220,496 |
| 28 |
$6,968,056 |
$2,538,511
$0 |
$4,429,545 |
| 29 |
$7,316,496 |
$2,667,434
$0 |
$4,649,062 |
| 30 |
$7,682,296 |
$2,802,780
$0 |
$4,879,516 |
|
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