The jackpot for the Powerball draw on Wed Sep 2, 2026, is projected to be $146 Million, with an option for a cash payout of $63.3 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Wed Sep 2, 2026 |
|---|
| Draw Date | Wed Sep 2, 2026 | | Projected Jackpot | $146,000,000 | | Cash Value | $63,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,300,000 | | Federal Tax(24%) | $15,192,000 | | Additional Federal Tax | $8,189,330 | | State Tax(4.25%) | $2,690,250 | | Net Lumpsum Payment | $37,228,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,197,446 |
$773,385
$93,391 |
$1,330,670 |
| 2 |
$2,307,384 |
$814,062
$98,064 |
$1,395,258 |
| 3 |
$2,422,724 |
$856,738
$102,966 |
$1,463,020 |
| 4 |
$2,543,904 |
$901,575
$108,116 |
$1,534,213 |
| 5 |
$2,671,070 |
$948,626
$113,520 |
$1,608,924 |
| 6 |
$2,804,660 |
$998,055
$119,198 |
$1,687,407 |
| 7 |
$2,944,820 |
$1,049,914
$125,155 |
$1,769,751 |
| 8 |
$3,092,134 |
$1,104,420
$131,416 |
$1,856,298 |
| 9 |
$3,246,748 |
$1,161,627
$137,987 |
$1,947,134 |
| 10 |
$3,409,100 |
$1,221,697
$144,887 |
$2,042,516 |
| 11 |
$3,579,482 |
$1,284,739
$152,128 |
$2,142,615 |
| 12 |
$3,758,478 |
$1,350,967
$159,735 |
$2,247,776 |
| 13 |
$3,946,380 |
$1,420,491
$167,721 |
$2,358,168 |
| 14 |
$4,143,772 |
$1,493,526
$176,110 |
$2,474,136 |
| 15 |
$4,350,946 |
$1,570,180
$184,915 |
$2,595,851 |
| 16 |
$4,568,486 |
$1,650,670
$194,161 |
$2,723,655 |
| 17 |
$4,796,830 |
$1,735,157
$203,865 |
$2,857,808 |
| 18 |
$5,036,708 |
$1,823,912
$214,060 |
$2,998,736 |
| 19 |
$5,288,558 |
$1,917,097
$224,764 |
$3,146,697 |
| 20 |
$5,552,964 |
$2,014,927
$236,001 |
$3,302,036 |
| 21 |
$5,830,656 |
$2,117,673
$247,803 |
$3,465,180 |
| 22 |
$6,122,218 |
$2,225,551
$260,194 |
$3,636,473 |
| 23 |
$6,428,234 |
$2,338,777
$273,200 |
$3,816,257 |
| 24 |
$6,749,726 |
$2,457,729
$286,863 |
$4,005,134 |
| 25 |
$7,087,132 |
$2,582,569
$301,203 |
$4,203,360 |
| 26 |
$7,441,620 |
$2,713,730
$316,269 |
$4,411,621 |
| 27 |
$7,813,628 |
$2,851,373
$332,079 |
$4,630,176 |
| 28 |
$8,204,324 |
$2,995,930
$348,684 |
$4,859,710 |
| 29 |
$8,614,584 |
$3,147,726
$366,120 |
$5,100,738 |
| 30 |
$9,045,284 |
$3,307,085
$384,425 |
$5,353,774 |
|
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