The jackpot for the Powerball draw on Sat Aug 22, 2026, is projected to be $68 Million, with an option for a cash payout of $29.5 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina Powerball Jackpot/Cash Option for Sat Aug 22, 2026 |
|---|
| Draw Date | Sat Aug 22, 2026 | | Projected Jackpot | $68,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(4.75%) | $1,401,250 | | Net Lumpsum Payment | $17,223,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,023,468 |
$339,014
$48,615 |
$635,839 |
| 2 |
$1,074,672 |
$357,959
$51,047 |
$665,666 |
| 3 |
$1,128,392 |
$377,835
$53,599 |
$696,958 |
| 4 |
$1,184,832 |
$398,718
$56,280 |
$729,834 |
| 5 |
$1,244,060 |
$420,633
$59,093 |
$764,334 |
| 6 |
$1,306,280 |
$443,654
$62,048 |
$800,578 |
| 7 |
$1,371,560 |
$467,808
$65,149 |
$838,603 |
| 8 |
$1,440,172 |
$493,194
$68,408 |
$878,570 |
| 9 |
$1,512,184 |
$519,838
$71,829 |
$920,517 |
| 10 |
$1,587,800 |
$547,816
$75,421 |
$964,563 |
| 11 |
$1,667,156 |
$577,178
$79,190 |
$1,010,788 |
| 12 |
$1,750,524 |
$608,024
$83,150 |
$1,059,350 |
| 13 |
$1,838,040 |
$640,405
$87,307 |
$1,110,328 |
| 14 |
$1,929,976 |
$674,422
$91,674 |
$1,163,880 |
| 15 |
$2,026,468 |
$710,124
$96,257 |
$1,220,087 |
| 16 |
$2,127,788 |
$747,612
$101,070 |
$1,279,106 |
| 17 |
$2,234,140 |
$786,962
$106,122 |
$1,341,056 |
| 18 |
$2,345,864 |
$828,300
$111,429 |
$1,406,135 |
| 19 |
$2,463,164 |
$871,701
$117,000 |
$1,474,463 |
| 20 |
$2,586,312 |
$917,266
$122,850 |
$1,546,196 |
| 21 |
$2,715,648 |
$965,120
$128,993 |
$1,621,535 |
| 22 |
$2,851,444 |
$1,015,365
$135,444 |
$1,700,635 |
| 23 |
$2,993,972 |
$1,068,100
$142,214 |
$1,783,658 |
| 24 |
$3,143,708 |
$1,123,502
$149,326 |
$1,870,880 |
| 25 |
$3,300,856 |
$1,181,647
$156,791 |
$1,962,418 |
| 26 |
$3,465,960 |
$1,242,736
$164,633 |
$2,058,591 |
| 27 |
$3,639,224 |
$1,306,843
$172,863 |
$2,159,518 |
| 28 |
$3,821,192 |
$1,374,171
$181,507 |
$2,265,514 |
| 29 |
$4,012,272 |
$1,444,871
$190,583 |
$2,376,818 |
| 30 |
$4,212,872 |
$1,519,093
$200,111 |
$2,493,668 |
|
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