The jackpot for the Powerball draw on Wed Feb 25, 2026, is projected to be $218 Million, with an option for a cash payout of $101.6 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Wed Feb 25, 2026 |
|---|
| Draw Date | Wed Feb 25, 2026 | | Projected Jackpot | $218,000,000 | | Cash Value | $101,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $101,600,000 | | Federal Tax(24%) | $24,384,000 | | Additional Federal Tax | $13,168,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $64,047,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,281,118 |
$1,174,344
$0 |
$2,106,774 |
| 2 |
$3,445,272 |
$1,235,081
$0 |
$2,210,191 |
| 3 |
$3,617,492 |
$1,298,802
$0 |
$2,318,690 |
| 4 |
$3,798,432 |
$1,365,750
$0 |
$2,432,682 |
| 5 |
$3,988,310 |
$1,436,005
$0 |
$2,552,305 |
| 6 |
$4,187,780 |
$1,509,809
$0 |
$2,677,971 |
| 7 |
$4,397,060 |
$1,587,243
$0 |
$2,809,817 |
| 8 |
$4,617,022 |
$1,668,629
$0 |
$2,948,393 |
| 9 |
$4,847,884 |
$1,754,047
$0 |
$3,093,837 |
| 10 |
$5,090,300 |
$1,843,741
$0 |
$3,246,559 |
| 11 |
$5,344,706 |
$1,937,872
$0 |
$3,406,834 |
| 12 |
$5,611,974 |
$2,036,761
$0 |
$3,575,213 |
| 13 |
$5,892,540 |
$2,140,570
$0 |
$3,751,970 |
| 14 |
$6,187,276 |
$2,249,623
$0 |
$3,937,653 |
| 15 |
$6,496,618 |
$2,364,079
$0 |
$4,132,539 |
| 16 |
$6,821,438 |
$2,484,262
$0 |
$4,337,176 |
| 17 |
$7,162,390 |
$2,610,415
$0 |
$4,551,975 |
| 18 |
$7,520,564 |
$2,742,939
$0 |
$4,777,625 |
| 19 |
$7,896,614 |
$2,882,078
$0 |
$5,014,536 |
| 20 |
$8,291,412 |
$3,028,153
$0 |
$5,263,259 |
| 21 |
$8,706,048 |
$3,181,568
$0 |
$5,524,480 |
| 22 |
$9,141,394 |
$3,342,646
$0 |
$5,798,748 |
| 23 |
$9,598,322 |
$3,511,710
$0 |
$6,086,612 |
| 24 |
$10,078,358 |
$3,689,323
$0 |
$6,389,035 |
| 25 |
$10,582,156 |
$3,875,728
$0 |
$6,706,428 |
| 26 |
$11,111,460 |
$4,071,571
$0 |
$7,039,889 |
| 27 |
$11,666,924 |
$4,277,092
$0 |
$7,389,832 |
| 28 |
$12,250,292 |
$4,492,938
$0 |
$7,757,354 |
| 29 |
$12,862,872 |
$4,719,593
$0 |
$8,143,279 |
| 30 |
$13,505,972 |
$4,957,540
$0 |
$8,548,432 |
|
|
