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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $11,758,530 | | Net Lumpsum Payment | $173,942,140 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$412,567 |
$6,141,326 |
| 2 |
$10,857,348 |
$3,977,549
$433,208 |
$6,446,591 |
| 3 |
$11,400,078 |
$4,178,359
$454,863 |
$6,766,856 |
| 4 |
$11,970,288 |
$4,389,337
$477,614 |
$7,103,337 |
| 5 |
$12,568,665 |
$4,610,736
$501,490 |
$7,456,439 |
| 6 |
$13,197,270 |
$4,843,320
$526,571 |
$7,827,379 |
| 7 |
$13,856,790 |
$5,087,343
$552,886 |
$8,216,561 |
| 8 |
$14,549,973 |
$5,343,820
$580,544 |
$8,625,609 |
| 9 |
$15,277,506 |
$5,613,008
$609,572 |
$9,054,926 |
| 10 |
$16,041,450 |
$5,895,667
$640,054 |
$9,505,729 |
| 11 |
$16,843,179 |
$6,192,307
$672,043 |
$9,978,829 |
| 12 |
$17,685,441 |
$6,503,944
$705,649 |
$10,475,848 |
| 13 |
$18,569,610 |
$6,831,086
$740,927 |
$10,997,597 |
| 14 |
$19,498,434 |
$7,174,751
$777,988 |
$11,545,695 |
| 15 |
$20,473,287 |
$7,535,447
$816,884 |
$12,120,956 |
| 16 |
$21,496,917 |
$7,914,190
$857,727 |
$12,725,000 |
| 17 |
$22,571,385 |
$8,311,743
$900,598 |
$13,359,044 |
| 18 |
$23,700,126 |
$8,729,377
$945,635 |
$14,025,114 |
| 19 |
$24,885,201 |
$9,167,855
$992,920 |
$14,724,426 |
| 20 |
$26,129,358 |
$9,628,193
$1,042,561 |
$15,458,604 |
| 21 |
$27,436,032 |
$10,111,662
$1,094,698 |
$16,229,672 |
| 22 |
$28,807,971 |
$10,619,280
$1,149,438 |
$17,039,253 |
| 23 |
$30,247,923 |
$11,152,062
$1,206,892 |
$17,888,969 |
| 24 |
$31,760,697 |
$11,711,788
$1,267,252 |
$18,781,657 |
| 25 |
$33,348,354 |
$12,299,221
$1,330,599 |
$19,718,534 |
| 26 |
$35,016,390 |
$12,916,395
$1,397,154 |
$20,702,841 |
| 27 |
$36,766,866 |
$13,564,071
$1,466,998 |
$21,735,797 |
| 28 |
$38,605,278 |
$14,244,283
$1,540,351 |
$22,820,644 |
| 29 |
$40,535,748 |
$14,958,557
$1,617,376 |
$23,959,815 |
| 30 |
$42,562,398 |
$15,708,418
$1,698,240 |
$25,155,740 |
|
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