The jackpot for the Powerball draw on Wed Aug 12, 2026, is projected to be $975 Million, with an option for a cash payout of $422.3 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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho Powerball Jackpot/Cash Option for Wed Aug 12, 2026 |
|---|
| Draw Date | Wed Aug 12, 2026 | | Projected Jackpot | $975,000,000 | | Cash Value | $422,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $422,300,000 | | Federal Tax(24%) | $101,352,000 | | Additional Federal Tax | $54,859,330 | | State Tax(5.8%) | $24,493,400 | | Net Lumpsum Payment | $241,595,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,674,725 |
$5,389,979
$851,134 |
$8,433,612 |
| 2 |
$15,408,900 |
$5,661,623
$893,716 |
$8,853,561 |
| 3 |
$16,179,150 |
$5,946,616
$938,391 |
$9,294,143 |
| 4 |
$16,988,400 |
$6,246,038
$985,327 |
$9,757,035 |
| 5 |
$17,837,625 |
$6,560,252
$1,034,582 |
$10,242,791 |
| 6 |
$18,729,750 |
$6,890,338
$1,086,326 |
$10,753,086 |
| 7 |
$19,665,750 |
$7,236,658
$1,140,614 |
$11,288,478 |
| 8 |
$20,649,525 |
$7,600,655
$1,197,672 |
$11,851,198 |
| 9 |
$21,682,050 |
$7,982,689
$1,257,559 |
$12,441,802 |
| 10 |
$22,766,250 |
$8,383,843
$1,320,443 |
$13,061,964 |
| 11 |
$23,904,075 |
$8,804,838
$1,386,436 |
$13,712,801 |
| 12 |
$25,099,425 |
$9,247,118
$1,455,767 |
$14,396,540 |
| 13 |
$26,354,250 |
$9,711,403
$1,528,547 |
$15,114,300 |
| 14 |
$27,672,450 |
$10,199,137
$1,605,002 |
$15,868,311 |
| 15 |
$29,055,975 |
$10,711,041
$1,685,247 |
$16,659,687 |
| 16 |
$30,508,725 |
$11,248,559
$1,769,506 |
$17,490,660 |
| 17 |
$32,033,625 |
$11,812,772
$1,857,950 |
$18,362,903 |
| 18 |
$33,635,550 |
$12,405,484
$1,950,862 |
$19,279,204 |
| 19 |
$35,317,425 |
$13,027,778
$2,048,411 |
$20,241,236 |
| 20 |
$37,083,150 |
$13,681,096
$2,150,823 |
$21,251,231 |
| 21 |
$38,937,600 |
$14,367,242
$2,258,381 |
$22,311,977 |
| 22 |
$40,884,675 |
$15,087,660
$2,371,311 |
$23,425,704 |
| 23 |
$42,928,275 |
$15,843,792
$2,489,840 |
$24,594,643 |
| 24 |
$45,075,225 |
$16,638,164
$2,614,363 |
$25,822,698 |
| 25 |
$47,328,450 |
$17,471,857
$2,745,050 |
$27,111,543 |
| 26 |
$49,695,750 |
$18,347,758
$2,882,354 |
$28,465,638 |
| 27 |
$52,180,050 |
$19,266,949
$3,026,443 |
$29,886,658 |
| 28 |
$54,789,150 |
$20,232,316
$3,177,771 |
$31,379,063 |
| 29 |
$57,528,900 |
$21,246,023
$3,336,676 |
$32,946,201 |
| 30 |
$60,405,150 |
$22,310,236
$3,503,499 |
$34,591,415 |
|
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