The jackpot for the Powerball draw on Wed Feb 18, 2026, is projected to be $169 Million, with an option for a cash payout of $79.2 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Wed Feb 18, 2026 |
|---|
| Draw Date | Wed Feb 18, 2026 | | Projected Jackpot | $169,000,000 | | Cash Value | $79,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,200,000 | | Federal Tax(24%) | $19,008,000 | | Additional Federal Tax | $10,256,330 | | State Tax(4.25%) | $3,366,000 | | Net Lumpsum Payment | $46,569,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,543,619 |
$901,469
$108,104 |
$1,534,046 |
| 2 |
$2,670,876 |
$948,555
$113,512 |
$1,608,809 |
| 3 |
$2,804,386 |
$997,953
$119,186 |
$1,687,247 |
| 4 |
$2,944,656 |
$1,049,853
$125,148 |
$1,769,655 |
| 5 |
$3,091,855 |
$1,104,317
$131,404 |
$1,856,134 |
| 6 |
$3,246,490 |
$1,161,532
$137,976 |
$1,946,982 |
| 7 |
$3,408,730 |
$1,221,560
$144,871 |
$2,042,299 |
| 8 |
$3,579,251 |
$1,284,653
$152,118 |
$2,142,480 |
| 9 |
$3,758,222 |
$1,350,873
$159,724 |
$2,247,625 |
| 10 |
$3,946,150 |
$1,420,406
$167,711 |
$2,358,033 |
| 11 |
$4,143,373 |
$1,493,378
$176,093 |
$2,473,902 |
| 12 |
$4,350,567 |
$1,570,040
$184,899 |
$2,595,628 |
| 13 |
$4,568,070 |
$1,650,516
$194,143 |
$2,723,411 |
| 14 |
$4,796,558 |
$1,735,057
$203,854 |
$2,857,647 |
| 15 |
$5,036,369 |
$1,823,787
$214,046 |
$2,998,536 |
| 16 |
$5,288,179 |
$1,916,957
$224,748 |
$3,146,474 |
| 17 |
$5,552,495 |
$2,014,754
$235,981 |
$3,301,760 |
| 18 |
$5,830,162 |
$2,117,490
$247,782 |
$3,464,890 |
| 19 |
$6,121,687 |
$2,225,355
$260,172 |
$3,636,160 |
| 20 |
$6,427,746 |
$2,338,596
$273,179 |
$3,815,971 |
| 21 |
$6,749,184 |
$2,457,528
$286,840 |
$4,004,816 |
| 22 |
$7,086,677 |
$2,582,401
$301,184 |
$4,203,092 |
| 23 |
$7,440,901 |
$2,713,464
$316,238 |
$4,411,199 |
| 24 |
$7,813,039 |
$2,851,155
$332,054 |
$4,629,830 |
| 25 |
$8,203,598 |
$2,995,662
$348,653 |
$4,859,283 |
| 26 |
$8,613,930 |
$3,147,484
$366,092 |
$5,100,354 |
| 27 |
$9,044,542 |
$3,306,811
$384,393 |
$5,353,338 |
| 28 |
$9,496,786 |
$3,474,141
$403,613 |
$5,619,032 |
| 29 |
$9,971,676 |
$3,649,851
$423,796 |
$5,898,029 |
| 30 |
$10,470,226 |
$3,834,314
$444,985 |
$6,190,927 |
|
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