The jackpot for the Powerball draw on Sat Jun 13, 2026, is projected to be $258 Million, with an option for a cash payout of $115 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 Sat Jun 13, 2026 |
|---|
| Draw Date | Sat Jun 13, 2026 | | Projected Jackpot | $258,000,000 | | Cash Value | $115,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $115,000,000 | | Federal Tax(24%) | $27,600,000 | | Additional Federal Tax | $14,910,330 | | State Tax(4.25%) | $4,887,500 | | Net Lumpsum Payment | $67,602,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,883,158 |
$1,397,099
$165,034 |
$2,321,025 |
| 2 |
$4,077,432 |
$1,468,980
$173,291 |
$2,435,161 |
| 3 |
$4,281,252 |
$1,544,394
$181,953 |
$2,554,905 |
| 4 |
$4,495,392 |
$1,623,625
$191,054 |
$2,680,713 |
| 5 |
$4,720,110 |
$1,706,771
$200,605 |
$2,812,734 |
| 6 |
$4,956,180 |
$1,794,117
$210,638 |
$2,951,425 |
| 7 |
$5,203,860 |
$1,885,759
$221,164 |
$3,096,937 |
| 8 |
$5,464,182 |
$1,982,078
$232,228 |
$3,249,876 |
| 9 |
$5,737,404 |
$2,083,170
$243,840 |
$3,410,394 |
| 10 |
$6,024,300 |
$2,189,321
$256,033 |
$3,578,946 |
| 11 |
$6,325,386 |
$2,300,723
$268,829 |
$3,755,834 |
| 12 |
$6,641,694 |
$2,417,757
$282,272 |
$3,941,665 |
| 13 |
$6,973,740 |
$2,540,614
$296,384 |
$4,136,742 |
| 14 |
$7,322,556 |
$2,669,676
$311,209 |
$4,341,671 |
| 15 |
$7,688,658 |
$2,805,134
$326,768 |
$4,556,756 |
| 16 |
$8,073,078 |
$2,947,369
$343,106 |
$4,782,603 |
| 17 |
$8,476,590 |
$3,096,669
$360,255 |
$5,019,666 |
| 18 |
$8,900,484 |
$3,253,509
$378,271 |
$5,268,704 |
| 19 |
$9,345,534 |
$3,418,178
$397,185 |
$5,530,171 |
| 20 |
$9,812,772 |
$3,591,056
$417,043 |
$5,804,673 |
| 21 |
$10,303,488 |
$3,772,621
$437,898 |
$6,092,969 |
| 22 |
$10,818,714 |
$3,963,255
$459,795 |
$6,395,664 |
| 23 |
$11,359,482 |
$4,163,339
$482,778 |
$6,713,365 |
| 24 |
$11,927,598 |
$4,373,542
$506,923 |
$7,047,133 |
| 25 |
$12,523,836 |
$4,594,150
$532,263 |
$7,397,423 |
| 26 |
$13,150,260 |
$4,825,927
$558,886 |
$7,765,447 |
| 27 |
$13,807,644 |
$5,069,159
$586,825 |
$8,151,660 |
| 28 |
$14,498,052 |
$5,324,610
$616,167 |
$8,557,275 |
| 29 |
$15,223,032 |
$5,592,852
$646,979 |
$8,983,201 |
| 30 |
$15,984,132 |
$5,874,459
$679,326 |
$9,430,347 |
|
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