The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio Powerball Jackpot/Cash Option for Wed Jul 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(3.99%) | $10,046,820 | | Net Lumpsum Payment | $148,626,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$340,503 |
$5,075,534 |
| 2 |
$8,960,868 |
$3,275,852
$357,539 |
$5,327,477 |
| 3 |
$9,408,798 |
$3,441,586
$375,411 |
$5,591,801 |
| 4 |
$9,879,408 |
$3,615,711
$394,188 |
$5,869,509 |
| 5 |
$10,373,265 |
$3,798,438
$413,893 |
$6,160,934 |
| 6 |
$10,892,070 |
$3,990,396
$434,594 |
$6,467,080 |
| 7 |
$11,436,390 |
$4,191,795
$456,312 |
$6,788,283 |
| 8 |
$12,008,493 |
$4,403,473
$479,139 |
$7,125,881 |
| 9 |
$12,608,946 |
$4,625,640
$503,097 |
$7,480,209 |
| 10 |
$13,239,450 |
$4,858,927
$528,254 |
$7,852,269 |
| 11 |
$13,901,139 |
$5,103,752
$554,655 |
$8,242,732 |
| 12 |
$14,596,281 |
$5,360,954
$582,392 |
$8,652,935 |
| 13 |
$15,326,010 |
$5,630,954
$611,508 |
$9,083,548 |
| 14 |
$16,092,594 |
$5,914,590
$642,095 |
$9,535,909 |
| 15 |
$16,897,167 |
$6,212,282
$674,197 |
$10,010,688 |
| 16 |
$17,741,997 |
$6,524,869
$707,906 |
$10,509,222 |
| 17 |
$18,628,785 |
$6,852,981
$743,289 |
$11,032,515 |
| 18 |
$19,560,366 |
$7,197,666
$780,459 |
$11,582,241 |
| 19 |
$20,538,441 |
$7,559,554
$819,484 |
$12,159,403 |
| 20 |
$21,565,278 |
$7,939,483
$860,455 |
$12,765,340 |
| 21 |
$22,643,712 |
$8,338,504
$903,484 |
$13,401,724 |
| 22 |
$23,776,011 |
$8,757,454
$948,663 |
$14,069,894 |
| 23 |
$24,964,443 |
$9,197,174
$996,081 |
$14,771,188 |
| 24 |
$26,212,977 |
$9,659,132
$1,045,898 |
$15,507,947 |
| 25 |
$27,523,314 |
$10,143,957
$1,098,180 |
$16,281,177 |
| 26 |
$28,899,990 |
$10,653,327
$1,153,110 |
$17,093,553 |
| 27 |
$30,344,706 |
$11,187,872
$1,210,754 |
$17,946,080 |
| 28 |
$31,861,998 |
$11,749,270
$1,271,294 |
$18,841,434 |
| 29 |
$33,455,268 |
$12,338,780
$1,334,865 |
$19,781,623 |
| 30 |
$35,127,918 |
$12,957,660
$1,401,604 |
$20,768,654 |
|
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