The jackpot for the Powerball draw on Wed Aug 12, 2026, is projected to be $975 Million, with an option for a cash payout of $422.3 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio Powerball Jackpot/Cash Option for Wed Aug 12, 2026 |
|---|
| Draw Date | Wed Aug 12, 2026 | | Projected Jackpot | $975,000,000 | | Cash Value | $422,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $422,300,000 | | Federal Tax(24%) | $101,352,000 | | Additional Federal Tax | $54,859,330 | | State Tax(3.99%) | $16,849,770 | | Net Lumpsum Payment | $249,238,900 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,674,725 |
$5,389,979
$585,522 |
$8,699,224 |
| 2 |
$15,408,900 |
$5,661,623
$614,815 |
$9,132,462 |
| 3 |
$16,179,150 |
$5,946,616
$645,548 |
$9,586,986 |
| 4 |
$16,988,400 |
$6,246,038
$677,837 |
$10,064,525 |
| 5 |
$17,837,625 |
$6,560,252
$711,721 |
$10,565,652 |
| 6 |
$18,729,750 |
$6,890,338
$747,317 |
$11,092,095 |
| 7 |
$19,665,750 |
$7,236,658
$784,663 |
$11,644,429 |
| 8 |
$20,649,525 |
$7,600,655
$823,916 |
$12,224,954 |
| 9 |
$21,682,050 |
$7,982,689
$865,114 |
$12,834,247 |
| 10 |
$22,766,250 |
$8,383,843
$908,373 |
$13,474,034 |
| 11 |
$23,904,075 |
$8,804,838
$953,773 |
$14,145,464 |
| 12 |
$25,099,425 |
$9,247,118
$1,001,467 |
$14,850,840 |
| 13 |
$26,354,250 |
$9,711,403
$1,051,535 |
$15,591,312 |
| 14 |
$27,672,450 |
$10,199,137
$1,104,131 |
$16,369,182 |
| 15 |
$29,055,975 |
$10,711,041
$1,159,333 |
$17,185,601 |
| 16 |
$30,508,725 |
$11,248,559
$1,217,298 |
$18,042,868 |
| 17 |
$32,033,625 |
$11,812,772
$1,278,142 |
$18,942,711 |
| 18 |
$33,635,550 |
$12,405,484
$1,342,058 |
$19,888,008 |
| 19 |
$35,317,425 |
$13,027,778
$1,409,165 |
$20,880,482 |
| 20 |
$37,083,150 |
$13,681,096
$1,479,618 |
$21,922,436 |
| 21 |
$38,937,600 |
$14,367,242
$1,553,610 |
$23,016,748 |
| 22 |
$40,884,675 |
$15,087,660
$1,631,299 |
$24,165,716 |
| 23 |
$42,928,275 |
$15,843,792
$1,712,838 |
$25,371,645 |
| 24 |
$45,075,225 |
$16,638,164
$1,798,501 |
$26,638,560 |
| 25 |
$47,328,450 |
$17,471,857
$1,888,405 |
$27,968,188 |
| 26 |
$49,695,750 |
$18,347,758
$1,982,860 |
$29,365,132 |
| 27 |
$52,180,050 |
$19,266,949
$2,081,984 |
$30,831,117 |
| 28 |
$54,789,150 |
$20,232,316
$2,186,087 |
$32,370,747 |
| 29 |
$57,528,900 |
$21,246,023
$2,295,403 |
$33,987,474 |
| 30 |
$60,405,150 |
$22,310,236
$2,410,165 |
$35,684,749 |
|
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