The jackpot for the Powerball draw on Wed Jan 7, 2026, is projected to be $105 Million, with an option for a cash payout of $47.4 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 California, the bright side is you won't have to pay any state taxes on your lottery prize.
| California Powerball Jackpot/Cash Option for Wed Jan 7, 2026 |
|---|
| Draw Date | Wed Jan 7, 2026 | | Projected Jackpot | $105,000,000 | | Cash Value | $47,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $47,400,000 | | Federal Tax(24%) | $11,376,000 | | Additional Federal Tax | $6,122,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $29,901,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,580,355 |
$545,062
$0 |
$1,035,293 |
| 2 |
$1,659,420 |
$574,316
$0 |
$1,085,104 |
| 3 |
$1,742,370 |
$605,007
$0 |
$1,137,363 |
| 4 |
$1,829,520 |
$637,253
$0 |
$1,192,267 |
| 5 |
$1,920,975 |
$671,091
$0 |
$1,249,884 |
| 6 |
$2,017,050 |
$706,639
$0 |
$1,310,411 |
| 7 |
$2,117,850 |
$743,935
$0 |
$1,373,915 |
| 8 |
$2,223,795 |
$783,135
$0 |
$1,440,660 |
| 9 |
$2,334,990 |
$824,277
$0 |
$1,510,713 |
| 10 |
$2,451,750 |
$867,478
$0 |
$1,584,272 |
| 11 |
$2,574,285 |
$912,816
$0 |
$1,661,469 |
| 12 |
$2,703,015 |
$960,446
$0 |
$1,742,569 |
| 13 |
$2,838,150 |
$1,010,446
$0 |
$1,827,704 |
| 14 |
$2,980,110 |
$1,062,971
$0 |
$1,917,139 |
| 15 |
$3,129,105 |
$1,118,099
$0 |
$2,011,006 |
| 16 |
$3,285,555 |
$1,175,986
$0 |
$2,109,569 |
| 17 |
$3,449,775 |
$1,236,747
$0 |
$2,213,028 |
| 18 |
$3,622,290 |
$1,300,578
$0 |
$2,321,712 |
| 19 |
$3,803,415 |
$1,367,594
$0 |
$2,435,821 |
| 20 |
$3,993,570 |
$1,437,951
$0 |
$2,555,619 |
| 21 |
$4,193,280 |
$1,511,844
$0 |
$2,681,436 |
| 22 |
$4,402,965 |
$1,589,427
$0 |
$2,813,538 |
| 23 |
$4,623,045 |
$1,670,857
$0 |
$2,952,188 |
| 24 |
$4,854,255 |
$1,756,405
$0 |
$3,097,850 |
| 25 |
$5,096,910 |
$1,846,187
$0 |
$3,250,723 |
| 26 |
$5,351,850 |
$1,940,515
$0 |
$3,411,335 |
| 27 |
$5,619,390 |
$2,039,505
$0 |
$3,579,885 |
| 28 |
$5,900,370 |
$2,143,467
$0 |
$3,756,903 |
| 29 |
$6,195,420 |
$2,252,636
$0 |
$3,942,784 |
| 30 |
$6,505,170 |
$2,367,243
$0 |
$4,137,927 |
|
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