The jackpot for the Powerball draw on Sat Mar 7, 2026, is projected to be $35 Million, with an option for a cash payout of $16.5 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 Mar 7, 2026 |
|---|
| Draw Date | Sat Mar 7, 2026 | | Projected Jackpot | $35,000,000 | | Cash Value | $16,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $16,500,000 | | Federal Tax(24%) | $3,960,000 | | Additional Federal Tax | $2,105,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $10,434,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$526,785 |
$155,241
$0 |
$371,544 |
| 2 |
$553,140 |
$164,992
$0 |
$388,148 |
| 3 |
$580,790 |
$175,223
$0 |
$405,567 |
| 4 |
$609,840 |
$185,971
$0 |
$423,869 |
| 5 |
$640,325 |
$197,251
$0 |
$443,074 |
| 6 |
$672,350 |
$209,100
$0 |
$463,250 |
| 7 |
$705,950 |
$221,532
$0 |
$484,418 |
| 8 |
$741,265 |
$234,598
$0 |
$506,667 |
| 9 |
$778,330 |
$248,312
$0 |
$530,018 |
| 10 |
$817,250 |
$262,713
$0 |
$554,537 |
| 11 |
$858,095 |
$277,826
$0 |
$580,269 |
| 12 |
$901,005 |
$293,702
$0 |
$607,303 |
| 13 |
$946,050 |
$310,369
$0 |
$635,681 |
| 14 |
$993,370 |
$327,877
$0 |
$665,493 |
| 15 |
$1,043,035 |
$346,253
$0 |
$696,782 |
| 16 |
$1,095,185 |
$365,549
$0 |
$729,636 |
| 17 |
$1,149,925 |
$385,803
$0 |
$764,122 |
| 18 |
$1,207,430 |
$407,079
$0 |
$800,351 |
| 19 |
$1,267,805 |
$429,418
$0 |
$838,387 |
| 20 |
$1,331,190 |
$452,871
$0 |
$878,319 |
| 21 |
$1,397,760 |
$477,502
$0 |
$920,258 |
| 22 |
$1,467,655 |
$503,363
$0 |
$964,292 |
| 23 |
$1,541,015 |
$530,506
$0 |
$1,010,509 |
| 24 |
$1,618,085 |
$559,022
$0 |
$1,059,063 |
| 25 |
$1,698,970 |
$588,949
$0 |
$1,110,021 |
| 26 |
$1,783,950 |
$620,392
$0 |
$1,163,558 |
| 27 |
$1,873,130 |
$653,388
$0 |
$1,219,742 |
| 28 |
$1,966,790 |
$688,043
$0 |
$1,278,747 |
| 29 |
$2,065,140 |
$724,432
$0 |
$1,340,708 |
| 30 |
$2,168,390 |
$762,635
$0 |
$1,405,755 |
|
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