The jackpot for the Powerball draw on Sat Feb 28, 2026, is projected to be $238 Million, with an option for a cash payout of $110.9 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 Sat Feb 28, 2026 |
|---|
| Draw Date | Sat Feb 28, 2026 | | Projected Jackpot | $238,000,000 | | Cash Value | $110,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $110,900,000 | | Federal Tax(24%) | $26,616,000 | | Additional Federal Tax | $14,377,330 | | State Tax(3.15%) | $3,493,350 | | Net Lumpsum Payment | $66,413,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,582,138 |
$1,285,721
$112,837 |
$2,183,580 |
| 2 |
$3,761,352 |
$1,352,031
$118,483 |
$2,290,838 |
| 3 |
$3,949,372 |
$1,421,598
$124,405 |
$2,403,369 |
| 4 |
$4,146,912 |
$1,494,688
$130,628 |
$2,521,596 |
| 5 |
$4,354,210 |
$1,571,388
$137,158 |
$2,645,664 |
| 6 |
$4,571,980 |
$1,651,963
$144,017 |
$2,776,000 |
| 7 |
$4,800,460 |
$1,736,501
$151,214 |
$2,912,745 |
| 8 |
$5,040,602 |
$1,825,353
$158,779 |
$3,056,470 |
| 9 |
$5,292,644 |
$1,918,609
$166,718 |
$3,207,317 |
| 10 |
$5,557,300 |
$2,016,531
$175,055 |
$3,365,714 |
| 11 |
$5,835,046 |
$2,119,297
$183,804 |
$3,531,945 |
| 12 |
$6,126,834 |
$2,227,259
$192,995 |
$3,706,580 |
| 13 |
$6,433,140 |
$2,340,592
$202,644 |
$3,889,904 |
| 14 |
$6,754,916 |
$2,459,649
$212,780 |
$4,082,487 |
| 15 |
$7,092,638 |
$2,584,606
$223,418 |
$4,284,614 |
| 16 |
$7,447,258 |
$2,715,816
$234,589 |
$4,496,853 |
| 17 |
$7,819,490 |
$2,853,542
$246,314 |
$4,719,634 |
| 18 |
$8,210,524 |
$2,998,224
$258,632 |
$4,953,668 |
| 19 |
$8,621,074 |
$3,150,128
$271,564 |
$5,199,382 |
| 20 |
$9,052,092 |
$3,309,604
$285,141 |
$5,457,347 |
| 21 |
$9,504,768 |
$3,477,095
$299,400 |
$5,728,273 |
| 22 |
$9,980,054 |
$3,652,950
$314,372 |
$6,012,732 |
| 23 |
$10,478,902 |
$3,837,524
$330,085 |
$6,311,293 |
| 24 |
$11,002,978 |
$4,031,432
$346,594 |
$6,624,952 |
| 25 |
$11,552,996 |
$4,234,939
$363,919 |
$6,954,138 |
| 26 |
$12,130,860 |
$4,448,749
$382,122 |
$7,299,989 |
| 27 |
$12,737,284 |
$4,673,125
$401,224 |
$7,662,935 |
| 28 |
$13,374,172 |
$4,908,774
$421,286 |
$8,044,112 |
| 29 |
$14,042,952 |
$5,156,223
$442,353 |
$8,444,376 |
| 30 |
$14,745,052 |
$5,416,000
$464,469 |
$8,864,583 |
|
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