The jackpot for the Powerball draw on Sat Mar 21, 2026, is projected to be $120 Million, with an option for a cash payout of $54.6 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma Powerball Jackpot/Cash Option for Sat Mar 21, 2026 |
|---|
| Draw Date | Sat Mar 21, 2026 | | Projected Jackpot | $120,000,000 | | Cash Value | $54,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,600,000 | | Federal Tax(24%) | $13,104,000 | | Additional Federal Tax | $7,058,330 | | State Tax(4.75%) | $2,593,500 | | Net Lumpsum Payment | $31,844,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$85,791 |
$1,091,734 |
| 2 |
$1,896,480 |
$662,028
$90,083 |
$1,144,369 |
| 3 |
$1,991,280 |
$697,104
$94,586 |
$1,199,590 |
| 4 |
$2,090,880 |
$733,956
$99,317 |
$1,257,607 |
| 5 |
$2,195,400 |
$772,628
$104,282 |
$1,318,490 |
| 6 |
$2,305,200 |
$813,254
$109,497 |
$1,382,449 |
| 7 |
$2,420,400 |
$855,878
$114,969 |
$1,449,553 |
| 8 |
$2,541,480 |
$900,678
$120,720 |
$1,520,082 |
| 9 |
$2,668,560 |
$947,698
$126,757 |
$1,594,105 |
| 10 |
$2,802,000 |
$997,070
$133,095 |
$1,671,835 |
| 11 |
$2,942,040 |
$1,048,885
$139,747 |
$1,753,408 |
| 12 |
$3,089,160 |
$1,103,320
$146,735 |
$1,839,105 |
| 13 |
$3,243,600 |
$1,160,462
$154,071 |
$1,929,067 |
| 14 |
$3,405,840 |
$1,220,491
$161,777 |
$2,023,572 |
| 15 |
$3,576,120 |
$1,283,495
$169,866 |
$2,122,759 |
| 16 |
$3,754,920 |
$1,349,651
$178,359 |
$2,226,910 |
| 17 |
$3,942,600 |
$1,419,092
$187,274 |
$2,336,234 |
| 18 |
$4,139,760 |
$1,492,042
$196,639 |
$2,451,079 |
| 19 |
$4,346,760 |
$1,568,632
$206,471 |
$2,571,657 |
| 20 |
$4,564,080 |
$1,649,040
$216,794 |
$2,698,246 |
| 21 |
$4,792,320 |
$1,733,489
$227,635 |
$2,831,196 |
| 22 |
$5,031,960 |
$1,822,156
$239,018 |
$2,970,786 |
| 23 |
$5,283,480 |
$1,915,218
$250,965 |
$3,117,297 |
| 24 |
$5,547,720 |
$2,012,987
$263,517 |
$3,271,216 |
| 25 |
$5,825,040 |
$2,115,595
$276,689 |
$3,432,756 |
| 26 |
$6,116,400 |
$2,223,398
$290,529 |
$3,602,473 |
| 27 |
$6,422,160 |
$2,336,530
$305,053 |
$3,780,577 |
| 28 |
$6,743,280 |
$2,455,344
$320,306 |
$3,967,630 |
| 29 |
$7,080,480 |
$2,580,108
$336,323 |
$4,164,049 |
| 30 |
$7,434,480 |
$2,711,088
$353,138 |
$4,370,254 |
|
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