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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $19,003,500 | | Net Lumpsum Payment | $247,085,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,674,725 |
$5,389,979
$660,363 |
$8,624,383 |
| 2 |
$15,408,900 |
$5,661,623
$693,401 |
$9,053,876 |
| 3 |
$16,179,150 |
$5,946,616
$728,062 |
$9,504,472 |
| 4 |
$16,988,400 |
$6,246,038
$764,478 |
$9,977,884 |
| 5 |
$17,837,625 |
$6,560,252
$802,693 |
$10,474,680 |
| 6 |
$18,729,750 |
$6,890,338
$842,839 |
$10,996,573 |
| 7 |
$19,665,750 |
$7,236,658
$884,959 |
$11,544,133 |
| 8 |
$20,649,525 |
$7,600,655
$929,229 |
$12,119,641 |
| 9 |
$21,682,050 |
$7,982,689
$975,692 |
$12,723,669 |
| 10 |
$22,766,250 |
$8,383,843
$1,024,481 |
$13,357,926 |
| 11 |
$23,904,075 |
$8,804,838
$1,075,683 |
$14,023,554 |
| 12 |
$25,099,425 |
$9,247,118
$1,129,474 |
$14,722,833 |
| 13 |
$26,354,250 |
$9,711,403
$1,185,941 |
$15,456,906 |
| 14 |
$27,672,450 |
$10,199,137
$1,245,260 |
$16,228,053 |
| 15 |
$29,055,975 |
$10,711,041
$1,307,519 |
$17,037,415 |
| 16 |
$30,508,725 |
$11,248,559
$1,372,893 |
$17,887,273 |
| 17 |
$32,033,625 |
$11,812,772
$1,441,513 |
$18,779,340 |
| 18 |
$33,635,550 |
$12,405,484
$1,513,600 |
$19,716,466 |
| 19 |
$35,317,425 |
$13,027,778
$1,589,284 |
$20,700,363 |
| 20 |
$37,083,150 |
$13,681,096
$1,668,742 |
$21,733,312 |
| 21 |
$38,937,600 |
$14,367,242
$1,752,192 |
$22,818,166 |
| 22 |
$40,884,675 |
$15,087,660
$1,839,810 |
$23,957,205 |
| 23 |
$42,928,275 |
$15,843,792
$1,931,772 |
$25,152,711 |
| 24 |
$45,075,225 |
$16,638,164
$2,028,385 |
$26,408,676 |
| 25 |
$47,328,450 |
$17,471,857
$2,129,780 |
$27,726,813 |
| 26 |
$49,695,750 |
$18,347,758
$2,236,309 |
$29,111,683 |
| 27 |
$52,180,050 |
$19,266,949
$2,348,102 |
$30,564,999 |
| 28 |
$54,789,150 |
$20,232,316
$2,465,512 |
$32,091,322 |
| 29 |
$57,528,900 |
$21,246,023
$2,588,801 |
$33,694,076 |
| 30 |
$60,405,150 |
$22,310,236
$2,718,232 |
$35,376,682 |
|
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