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 Massachusetts residents, the state will deduct 5% from your lottery earnings.
| Massachusetts 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%) | $21,115,000 | | Net Lumpsum Payment | $244,973,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,674,725 |
$5,389,979
$733,736 |
$8,551,010 |
| 2 |
$15,408,900 |
$5,661,623
$770,445 |
$8,976,832 |
| 3 |
$16,179,150 |
$5,946,616
$808,958 |
$9,423,576 |
| 4 |
$16,988,400 |
$6,246,038
$849,420 |
$9,892,942 |
| 5 |
$17,837,625 |
$6,560,252
$891,881 |
$10,385,492 |
| 6 |
$18,729,750 |
$6,890,338
$936,488 |
$10,902,924 |
| 7 |
$19,665,750 |
$7,236,658
$983,288 |
$11,445,804 |
| 8 |
$20,649,525 |
$7,600,655
$1,032,476 |
$12,016,394 |
| 9 |
$21,682,050 |
$7,982,689
$1,084,103 |
$12,615,258 |
| 10 |
$22,766,250 |
$8,383,843
$1,138,313 |
$13,244,094 |
| 11 |
$23,904,075 |
$8,804,838
$1,195,204 |
$13,904,033 |
| 12 |
$25,099,425 |
$9,247,118
$1,254,971 |
$14,597,336 |
| 13 |
$26,354,250 |
$9,711,403
$1,317,713 |
$15,325,134 |
| 14 |
$27,672,450 |
$10,199,137
$1,383,623 |
$16,089,690 |
| 15 |
$29,055,975 |
$10,711,041
$1,452,799 |
$16,892,135 |
| 16 |
$30,508,725 |
$11,248,559
$1,525,436 |
$17,734,730 |
| 17 |
$32,033,625 |
$11,812,772
$1,601,681 |
$18,619,172 |
| 18 |
$33,635,550 |
$12,405,484
$1,681,778 |
$19,548,288 |
| 19 |
$35,317,425 |
$13,027,778
$1,765,871 |
$20,523,776 |
| 20 |
$37,083,150 |
$13,681,096
$1,854,158 |
$21,547,896 |
| 21 |
$38,937,600 |
$14,367,242
$1,946,880 |
$22,623,478 |
| 22 |
$40,884,675 |
$15,087,660
$2,044,234 |
$23,752,781 |
| 23 |
$42,928,275 |
$15,843,792
$2,146,414 |
$24,938,069 |
| 24 |
$45,075,225 |
$16,638,164
$2,253,761 |
$26,183,300 |
| 25 |
$47,328,450 |
$17,471,857
$2,366,423 |
$27,490,170 |
| 26 |
$49,695,750 |
$18,347,758
$2,484,788 |
$28,863,204 |
| 27 |
$52,180,050 |
$19,266,949
$2,609,003 |
$30,304,098 |
| 28 |
$54,789,150 |
$20,232,316
$2,739,458 |
$31,817,376 |
| 29 |
$57,528,900 |
$21,246,023
$2,876,445 |
$33,406,432 |
| 30 |
$60,405,150 |
$22,310,236
$3,020,258 |
$35,074,656 |
|
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