The jackpot for the Powerball draw on Sat Feb 28, 2026, is projected to be $238 Million, with an option for a cash payout of $110.9 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 Feb 28, 2026 |
|---|
| Draw Date | Sat Feb 28, 2026 | | Projected Jackpot | $238,000,000 | | Cash Value | $110,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $110,900,000 | | Federal Tax(24%) | $26,616,000 | | Additional Federal Tax | $14,377,330 | | State Tax(4.75%) | $5,267,750 | | Net Lumpsum Payment | $64,638,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,582,138 |
$1,285,721
$170,152 |
$2,126,265 |
| 2 |
$3,761,352 |
$1,352,031
$178,664 |
$2,230,657 |
| 3 |
$3,949,372 |
$1,421,598
$187,595 |
$2,340,179 |
| 4 |
$4,146,912 |
$1,494,688
$196,978 |
$2,455,246 |
| 5 |
$4,354,210 |
$1,571,388
$206,825 |
$2,575,997 |
| 6 |
$4,571,980 |
$1,651,963
$217,169 |
$2,702,848 |
| 7 |
$4,800,460 |
$1,736,501
$228,022 |
$2,835,937 |
| 8 |
$5,040,602 |
$1,825,353
$239,429 |
$2,975,820 |
| 9 |
$5,292,644 |
$1,918,609
$251,401 |
$3,122,634 |
| 10 |
$5,557,300 |
$2,016,531
$263,972 |
$3,276,797 |
| 11 |
$5,835,046 |
$2,119,297
$277,165 |
$3,438,584 |
| 12 |
$6,126,834 |
$2,227,259
$291,025 |
$3,608,550 |
| 13 |
$6,433,140 |
$2,340,592
$305,574 |
$3,786,974 |
| 14 |
$6,754,916 |
$2,459,649
$320,859 |
$3,974,408 |
| 15 |
$7,092,638 |
$2,584,606
$336,900 |
$4,171,132 |
| 16 |
$7,447,258 |
$2,715,816
$353,745 |
$4,377,697 |
| 17 |
$7,819,490 |
$2,853,542
$371,426 |
$4,594,522 |
| 18 |
$8,210,524 |
$2,998,224
$390,000 |
$4,822,300 |
| 19 |
$8,621,074 |
$3,150,128
$409,501 |
$5,061,445 |
| 20 |
$9,052,092 |
$3,309,604
$429,974 |
$5,312,514 |
| 21 |
$9,504,768 |
$3,477,095
$451,476 |
$5,576,197 |
| 22 |
$9,980,054 |
$3,652,950
$474,053 |
$5,853,051 |
| 23 |
$10,478,902 |
$3,837,524
$497,748 |
$6,143,630 |
| 24 |
$11,002,978 |
$4,031,432
$522,641 |
$6,448,905 |
| 25 |
$11,552,996 |
$4,234,939
$548,767 |
$6,769,290 |
| 26 |
$12,130,860 |
$4,448,749
$576,216 |
$7,105,895 |
| 27 |
$12,737,284 |
$4,673,125
$605,021 |
$7,459,138 |
| 28 |
$13,374,172 |
$4,908,774
$635,273 |
$7,830,125 |
| 29 |
$14,042,952 |
$5,156,223
$667,040 |
$8,219,689 |
| 30 |
$14,745,052 |
$5,416,000
$700,390 |
$8,628,662 |
|
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