The jackpot for the Powerball draw on Mon Apr 13, 2026, is projected to be $45 Million, with an option for a cash payout of $20.5 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 Mon Apr 13, 2026 |
|---|
| Draw Date | Mon Apr 13, 2026 | | Projected Jackpot | $45,000,000 | | Cash Value | $20,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,500,000 | | Federal Tax(24%) | $4,920,000 | | Additional Federal Tax | $2,625,330 | | State Tax(4.25%) | $871,250 | | Net Lumpsum Payment | $12,083,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$677,295 |
$210,930
$28,785 |
$437,580 |
| 2 |
$711,180 |
$223,467
$30,225 |
$457,488 |
| 3 |
$746,730 |
$236,620
$31,736 |
$478,374 |
| 4 |
$784,080 |
$250,440
$33,323 |
$500,317 |
| 5 |
$823,275 |
$264,942
$34,989 |
$523,344 |
| 6 |
$864,450 |
$280,177
$36,739 |
$547,534 |
| 7 |
$907,650 |
$296,161
$38,575 |
$572,914 |
| 8 |
$953,055 |
$312,961
$40,505 |
$599,589 |
| 9 |
$1,000,710 |
$330,593
$42,530 |
$627,587 |
| 10 |
$1,050,750 |
$349,108
$44,657 |
$656,985 |
| 11 |
$1,103,265 |
$368,538
$46,889 |
$687,838 |
| 12 |
$1,158,435 |
$388,951
$49,233 |
$720,251 |
| 13 |
$1,216,350 |
$410,380
$51,695 |
$754,275 |
| 14 |
$1,277,190 |
$432,891
$54,281 |
$790,018 |
| 15 |
$1,341,045 |
$456,517
$56,994 |
$827,534 |
| 16 |
$1,408,095 |
$481,326
$59,844 |
$866,925 |
| 17 |
$1,478,475 |
$507,366
$62,835 |
$908,274 |
| 18 |
$1,552,410 |
$534,722
$65,977 |
$951,711 |
| 19 |
$1,630,035 |
$563,443
$69,276 |
$997,316 |
| 20 |
$1,711,530 |
$593,596
$72,740 |
$1,045,194 |
| 21 |
$1,797,120 |
$625,265
$76,378 |
$1,095,477 |
| 22 |
$1,886,985 |
$658,515
$80,197 |
$1,148,273 |
| 23 |
$1,981,305 |
$693,413
$84,205 |
$1,203,687 |
| 24 |
$2,080,395 |
$730,077
$88,417 |
$1,261,901 |
| 25 |
$2,184,390 |
$768,555
$92,837 |
$1,322,998 |
| 26 |
$2,293,650 |
$808,981
$97,480 |
$1,387,189 |
| 27 |
$2,408,310 |
$851,405
$102,353 |
$1,454,552 |
| 28 |
$2,528,730 |
$895,960
$107,471 |
$1,525,299 |
| 29 |
$2,655,180 |
$942,747
$112,845 |
$1,599,588 |
| 30 |
$2,787,930 |
$991,864
$118,487 |
$1,677,579 |
|
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