The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky Powerball Jackpot/Cash Option for Wed Jul 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(4.5%) | $11,331,000 | | Net Lumpsum Payment | $147,342,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$384,026 |
$5,032,011 |
| 2 |
$8,960,868 |
$3,275,852
$403,239 |
$5,281,777 |
| 3 |
$9,408,798 |
$3,441,586
$423,396 |
$5,543,816 |
| 4 |
$9,879,408 |
$3,615,711
$444,573 |
$5,819,124 |
| 5 |
$10,373,265 |
$3,798,438
$466,797 |
$6,108,030 |
| 6 |
$10,892,070 |
$3,990,396
$490,143 |
$6,411,531 |
| 7 |
$11,436,390 |
$4,191,795
$514,638 |
$6,729,957 |
| 8 |
$12,008,493 |
$4,403,473
$540,382 |
$7,064,638 |
| 9 |
$12,608,946 |
$4,625,640
$567,403 |
$7,415,903 |
| 10 |
$13,239,450 |
$4,858,927
$595,775 |
$7,784,748 |
| 11 |
$13,901,139 |
$5,103,752
$625,551 |
$8,171,836 |
| 12 |
$14,596,281 |
$5,360,954
$656,833 |
$8,578,494 |
| 13 |
$15,326,010 |
$5,630,954
$689,670 |
$9,005,386 |
| 14 |
$16,092,594 |
$5,914,590
$724,167 |
$9,453,837 |
| 15 |
$16,897,167 |
$6,212,282
$760,373 |
$9,924,512 |
| 16 |
$17,741,997 |
$6,524,869
$798,390 |
$10,418,738 |
| 17 |
$18,628,785 |
$6,852,981
$838,295 |
$10,937,509 |
| 18 |
$19,560,366 |
$7,197,666
$880,216 |
$11,482,484 |
| 19 |
$20,538,441 |
$7,559,554
$924,230 |
$12,054,657 |
| 20 |
$21,565,278 |
$7,939,483
$970,438 |
$12,655,357 |
| 21 |
$22,643,712 |
$8,338,504
$1,018,967 |
$13,286,241 |
| 22 |
$23,776,011 |
$8,757,454
$1,069,920 |
$13,948,637 |
| 23 |
$24,964,443 |
$9,197,174
$1,123,400 |
$14,643,869 |
| 24 |
$26,212,977 |
$9,659,132
$1,179,584 |
$15,374,261 |
| 25 |
$27,523,314 |
$10,143,957
$1,238,549 |
$16,140,808 |
| 26 |
$28,899,990 |
$10,653,327
$1,300,500 |
$16,946,163 |
| 27 |
$30,344,706 |
$11,187,872
$1,365,512 |
$17,791,322 |
| 28 |
$31,861,998 |
$11,749,270
$1,433,790 |
$18,678,938 |
| 29 |
$33,455,268 |
$12,338,780
$1,505,487 |
$19,611,001 |
| 30 |
$35,127,918 |
$12,957,660
$1,580,756 |
$20,589,502 |
|
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