The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Mon Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(3.15%) | $9,283,050 | | Net Lumpsum Payment | $176,417,620 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$325,711 |
$6,228,182 |
| 2 |
$10,857,348 |
$3,977,549
$342,006 |
$6,537,793 |
| 3 |
$11,400,078 |
$4,178,359
$359,102 |
$6,862,617 |
| 4 |
$11,970,288 |
$4,389,337
$377,064 |
$7,203,887 |
| 5 |
$12,568,665 |
$4,610,736
$395,913 |
$7,562,016 |
| 6 |
$13,197,270 |
$4,843,320
$415,714 |
$7,938,236 |
| 7 |
$13,856,790 |
$5,087,343
$436,489 |
$8,332,958 |
| 8 |
$14,549,973 |
$5,343,820
$458,324 |
$8,747,829 |
| 9 |
$15,277,506 |
$5,613,008
$481,241 |
$9,183,257 |
| 10 |
$16,041,450 |
$5,895,667
$505,306 |
$9,640,477 |
| 11 |
$16,843,179 |
$6,192,307
$530,560 |
$10,120,312 |
| 12 |
$17,685,441 |
$6,503,944
$557,091 |
$10,624,406 |
| 13 |
$18,569,610 |
$6,831,086
$584,943 |
$11,153,581 |
| 14 |
$19,498,434 |
$7,174,751
$614,201 |
$11,709,482 |
| 15 |
$20,473,287 |
$7,535,447
$644,909 |
$12,292,931 |
| 16 |
$21,496,917 |
$7,914,190
$677,153 |
$12,905,574 |
| 17 |
$22,571,385 |
$8,311,743
$710,999 |
$13,548,643 |
| 18 |
$23,700,126 |
$8,729,377
$746,554 |
$14,224,195 |
| 19 |
$24,885,201 |
$9,167,855
$783,884 |
$14,933,462 |
| 20 |
$26,129,358 |
$9,628,193
$823,075 |
$15,678,090 |
| 21 |
$27,436,032 |
$10,111,662
$864,235 |
$16,460,135 |
| 22 |
$28,807,971 |
$10,619,280
$907,451 |
$17,281,240 |
| 23 |
$30,247,923 |
$11,152,062
$952,810 |
$18,143,051 |
| 24 |
$31,760,697 |
$11,711,788
$1,000,462 |
$19,048,447 |
| 25 |
$33,348,354 |
$12,299,221
$1,050,473 |
$19,998,660 |
| 26 |
$35,016,390 |
$12,916,395
$1,103,016 |
$20,996,979 |
| 27 |
$36,766,866 |
$13,564,071
$1,158,156 |
$22,044,639 |
| 28 |
$38,605,278 |
$14,244,283
$1,216,066 |
$23,144,929 |
| 29 |
$40,535,748 |
$14,958,557
$1,276,876 |
$24,300,315 |
| 30 |
$42,562,398 |
$15,708,418
$1,340,716 |
$25,513,264 |
|
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