The jackpot for the Powerball draw on Sat Sep 19, 2026, is projected to be $298 Million, with an option for a cash payout of $126.6 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 those living in Tennessee, the bright side is you won't have to pay any state taxes on your lottery prize.
| Tennessee Powerball Jackpot/Cash Option for Sat Sep 19, 2026 |
|---|
| Draw Date | Sat Sep 19, 2026 | | Projected Jackpot | $298,000,000 | | Cash Value | $126,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,600,000 | | Federal Tax(24%) | $30,384,000 | | Additional Federal Tax | $16,418,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $79,797,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,485,198 |
$1,619,854
$0 |
$2,865,344 |
| 2 |
$4,709,592 |
$1,702,879
$0 |
$3,006,713 |
| 3 |
$4,945,012 |
$1,789,985
$0 |
$3,155,027 |
| 4 |
$5,192,352 |
$1,881,501
$0 |
$3,310,851 |
| 5 |
$5,451,910 |
$1,977,537
$0 |
$3,474,373 |
| 6 |
$5,724,580 |
$2,078,425
$0 |
$3,646,155 |
| 7 |
$6,010,660 |
$2,184,275
$0 |
$3,826,385 |
| 8 |
$6,311,342 |
$2,295,527
$0 |
$4,015,815 |
| 9 |
$6,626,924 |
$2,412,292
$0 |
$4,214,632 |
| 10 |
$6,958,300 |
$2,534,901
$0 |
$4,423,399 |
| 11 |
$7,306,066 |
$2,663,575
$0 |
$4,642,491 |
| 12 |
$7,671,414 |
$2,798,754
$0 |
$4,872,660 |
| 13 |
$8,054,940 |
$2,940,658
$0 |
$5,114,282 |
| 14 |
$8,457,836 |
$3,089,730
$0 |
$5,368,106 |
| 15 |
$8,880,698 |
$3,246,189
$0 |
$5,634,509 |
| 16 |
$9,324,718 |
$3,410,476
$0 |
$5,914,242 |
| 17 |
$9,790,790 |
$3,582,923
$0 |
$6,207,867 |
| 18 |
$10,280,404 |
$3,764,080
$0 |
$6,516,324 |
| 19 |
$10,794,454 |
$3,954,278
$0 |
$6,840,176 |
| 20 |
$11,334,132 |
$4,153,959
$0 |
$7,180,173 |
| 21 |
$11,900,928 |
$4,363,674
$0 |
$7,537,254 |
| 22 |
$12,496,034 |
$4,583,863
$0 |
$7,912,171 |
| 23 |
$13,120,642 |
$4,814,968
$0 |
$8,305,674 |
| 24 |
$13,776,838 |
$5,057,760
$0 |
$8,719,078 |
| 25 |
$14,465,516 |
$5,312,571
$0 |
$9,152,945 |
| 26 |
$15,189,060 |
$5,580,283
$0 |
$9,608,777 |
| 27 |
$15,948,364 |
$5,861,225
$0 |
$10,087,139 |
| 28 |
$16,745,812 |
$6,156,281
$0 |
$10,589,531 |
| 29 |
$17,583,192 |
$6,466,111
$0 |
$11,117,081 |
| 30 |
$18,462,292 |
$6,791,378
$0 |
$11,670,914 |
|
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