The jackpot for the Powerball draw on Wed Oct 7, 2026, is projected to be $485 Million, with an option for a cash payout of $199.8 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 Wed Oct 7, 2026 |
|---|
| Draw Date | Wed Oct 7, 2026 | | Projected Jackpot | $485,000,000 | | Cash Value | $199,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $199,800,000 | | Federal Tax(24%) | $47,952,000 | | Additional Federal Tax | $25,934,330 | | State Tax(4.75%) | $9,490,500 | | Net Lumpsum Payment | $116,423,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,299,735 |
$2,661,232
$346,737 |
$4,291,766 |
| 2 |
$7,664,940 |
$2,796,358
$364,085 |
$4,504,497 |
| 3 |
$8,048,090 |
$2,938,124
$382,284 |
$4,727,682 |
| 4 |
$8,450,640 |
$3,087,067
$401,405 |
$4,962,168 |
| 5 |
$8,873,075 |
$3,243,368
$421,471 |
$5,208,236 |
| 6 |
$9,316,850 |
$3,407,565
$442,550 |
$5,466,735 |
| 7 |
$9,782,450 |
$3,579,837
$464,666 |
$5,737,947 |
| 8 |
$10,271,815 |
$3,760,902
$487,911 |
$6,023,002 |
| 9 |
$10,785,430 |
$3,950,939
$512,308 |
$6,322,183 |
| 10 |
$11,324,750 |
$4,150,488
$537,926 |
$6,636,336 |
| 11 |
$11,890,745 |
$4,359,906
$564,810 |
$6,966,029 |
| 12 |
$12,485,355 |
$4,579,912
$593,054 |
$7,312,389 |
| 13 |
$13,109,550 |
$4,810,864
$622,704 |
$7,675,982 |
| 14 |
$13,765,270 |
$5,053,480
$653,850 |
$8,057,940 |
| 15 |
$14,453,485 |
$5,308,120
$686,541 |
$8,458,824 |
| 16 |
$15,176,135 |
$5,575,500
$720,866 |
$8,879,769 |
| 17 |
$15,934,675 |
$5,856,160
$756,897 |
$9,321,618 |
| 18 |
$16,731,530 |
$6,150,996
$794,748 |
$9,785,786 |
| 19 |
$17,568,155 |
$6,460,548
$834,487 |
$10,273,120 |
| 20 |
$18,446,490 |
$6,785,532
$876,208 |
$10,784,750 |
| 21 |
$19,368,960 |
$7,126,846
$920,026 |
$11,322,088 |
| 22 |
$20,337,505 |
$7,485,207
$966,031 |
$11,886,267 |
| 23 |
$21,354,065 |
$7,861,334
$1,014,318 |
$12,478,413 |
| 24 |
$22,422,035 |
$8,256,483
$1,065,047 |
$13,100,505 |
| 25 |
$23,542,870 |
$8,671,192
$1,118,286 |
$13,753,392 |
| 26 |
$24,720,450 |
$9,106,897
$1,174,221 |
$14,439,332 |
| 27 |
$25,956,230 |
$9,564,135
$1,232,921 |
$15,159,174 |
| 28 |
$27,254,090 |
$10,044,344
$1,294,569 |
$15,915,177 |
| 29 |
$28,616,940 |
$10,548,598
$1,359,305 |
$16,709,037 |
| 30 |
$30,047,690 |
$11,077,976
$1,427,265 |
$17,542,449 |
|
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