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 Massachusetts residents, the state will deduct 5% from your lottery earnings.
| Massachusetts 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(5%) | $12,590,000 | | Net Lumpsum Payment | $146,083,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$426,696 |
$4,989,341 |
| 2 |
$8,960,868 |
$3,275,852
$448,043 |
$5,236,973 |
| 3 |
$9,408,798 |
$3,441,586
$470,440 |
$5,496,772 |
| 4 |
$9,879,408 |
$3,615,711
$493,970 |
$5,769,727 |
| 5 |
$10,373,265 |
$3,798,438
$518,663 |
$6,056,164 |
| 6 |
$10,892,070 |
$3,990,396
$544,604 |
$6,357,070 |
| 7 |
$11,436,390 |
$4,191,795
$571,820 |
$6,672,775 |
| 8 |
$12,008,493 |
$4,403,473
$600,425 |
$7,004,595 |
| 9 |
$12,608,946 |
$4,625,640
$630,447 |
$7,352,859 |
| 10 |
$13,239,450 |
$4,858,927
$661,973 |
$7,718,550 |
| 11 |
$13,901,139 |
$5,103,752
$695,057 |
$8,102,330 |
| 12 |
$14,596,281 |
$5,360,954
$729,814 |
$8,505,513 |
| 13 |
$15,326,010 |
$5,630,954
$766,301 |
$8,928,755 |
| 14 |
$16,092,594 |
$5,914,590
$804,630 |
$9,373,374 |
| 15 |
$16,897,167 |
$6,212,282
$844,858 |
$9,840,027 |
| 16 |
$17,741,997 |
$6,524,869
$887,100 |
$10,330,028 |
| 17 |
$18,628,785 |
$6,852,981
$931,439 |
$10,844,365 |
| 18 |
$19,560,366 |
$7,197,666
$978,018 |
$11,384,682 |
| 19 |
$20,538,441 |
$7,559,554
$1,026,922 |
$11,951,965 |
| 20 |
$21,565,278 |
$7,939,483
$1,078,264 |
$12,547,531 |
| 21 |
$22,643,712 |
$8,338,504
$1,132,186 |
$13,173,022 |
| 22 |
$23,776,011 |
$8,757,454
$1,188,801 |
$13,829,756 |
| 23 |
$24,964,443 |
$9,197,174
$1,248,222 |
$14,519,047 |
| 24 |
$26,212,977 |
$9,659,132
$1,310,649 |
$15,243,196 |
| 25 |
$27,523,314 |
$10,143,957
$1,376,166 |
$16,003,191 |
| 26 |
$28,899,990 |
$10,653,327
$1,445,000 |
$16,801,663 |
| 27 |
$30,344,706 |
$11,187,872
$1,517,235 |
$17,639,599 |
| 28 |
$31,861,998 |
$11,749,270
$1,593,100 |
$18,519,628 |
| 29 |
$33,455,268 |
$12,338,780
$1,672,763 |
$19,443,725 |
| 30 |
$35,127,918 |
$12,957,660
$1,756,396 |
$20,413,862 |
|
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