The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Mon Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(4.75%) | $13,998,250 | | Net Lumpsum Payment | $171,702,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$491,152 |
$6,062,741 |
| 2 |
$10,857,348 |
$3,977,549
$515,724 |
$6,364,075 |
| 3 |
$11,400,078 |
$4,178,359
$541,504 |
$6,680,215 |
| 4 |
$11,970,288 |
$4,389,337
$568,589 |
$7,012,362 |
| 5 |
$12,568,665 |
$4,610,736
$597,012 |
$7,360,917 |
| 6 |
$13,197,270 |
$4,843,320
$626,870 |
$7,727,080 |
| 7 |
$13,856,790 |
$5,087,343
$658,198 |
$8,111,249 |
| 8 |
$14,549,973 |
$5,343,820
$691,124 |
$8,515,029 |
| 9 |
$15,277,506 |
$5,613,008
$725,682 |
$8,938,816 |
| 10 |
$16,041,450 |
$5,895,667
$761,969 |
$9,383,814 |
| 11 |
$16,843,179 |
$6,192,307
$800,051 |
$9,850,821 |
| 12 |
$17,685,441 |
$6,503,944
$840,058 |
$10,341,439 |
| 13 |
$18,569,610 |
$6,831,086
$882,056 |
$10,856,468 |
| 14 |
$19,498,434 |
$7,174,751
$926,176 |
$11,397,507 |
| 15 |
$20,473,287 |
$7,535,447
$972,481 |
$11,965,359 |
| 16 |
$21,496,917 |
$7,914,190
$1,021,104 |
$12,561,623 |
| 17 |
$22,571,385 |
$8,311,743
$1,072,141 |
$13,187,501 |
| 18 |
$23,700,126 |
$8,729,377
$1,125,756 |
$13,844,993 |
| 19 |
$24,885,201 |
$9,167,855
$1,182,047 |
$14,535,299 |
| 20 |
$26,129,358 |
$9,628,193
$1,241,145 |
$15,260,020 |
| 21 |
$27,436,032 |
$10,111,662
$1,303,212 |
$16,021,158 |
| 22 |
$28,807,971 |
$10,619,280
$1,368,379 |
$16,820,312 |
| 23 |
$30,247,923 |
$11,152,062
$1,436,776 |
$17,659,085 |
| 24 |
$31,760,697 |
$11,711,788
$1,508,633 |
$18,540,276 |
| 25 |
$33,348,354 |
$12,299,221
$1,584,047 |
$19,465,086 |
| 26 |
$35,016,390 |
$12,916,395
$1,663,279 |
$20,436,716 |
| 27 |
$36,766,866 |
$13,564,071
$1,746,426 |
$21,456,369 |
| 28 |
$38,605,278 |
$14,244,283
$1,833,751 |
$22,527,244 |
| 29 |
$40,535,748 |
$14,958,557
$1,925,448 |
$23,651,743 |
| 30 |
$42,562,398 |
$15,708,418
$2,021,714 |
$24,832,266 |
|
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