The jackpot for the Powerball draw on Mon Jul 27, 2026, is projected to be $633 Million, with an option for a cash payout of $277.3 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Mon Jul 27, 2026 |
|---|
| Draw Date | Mon Jul 27, 2026 | | Projected Jackpot | $633,000,000 | | Cash Value | $277,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $277,300,000 | | Federal Tax(24%) | $66,552,000 | | Additional Federal Tax | $36,009,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $174,738,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,527,283 |
$3,485,425
$0 |
$6,041,858 |
| 2 |
$10,003,932 |
$3,661,785
$0 |
$6,342,147 |
| 3 |
$10,504,002 |
$3,846,811
$0 |
$6,657,191 |
| 4 |
$11,029,392 |
$4,041,205
$0 |
$6,988,187 |
| 5 |
$11,580,735 |
$4,245,202
$0 |
$7,335,533 |
| 6 |
$12,159,930 |
$4,459,504
$0 |
$7,700,426 |
| 7 |
$12,767,610 |
$4,684,346
$0 |
$8,083,264 |
| 8 |
$13,406,307 |
$4,920,664
$0 |
$8,485,643 |
| 9 |
$14,076,654 |
$5,168,692
$0 |
$8,907,962 |
| 10 |
$14,780,550 |
$5,429,134
$0 |
$9,351,416 |
| 11 |
$15,519,261 |
$5,702,457
$0 |
$9,816,804 |
| 12 |
$16,295,319 |
$5,989,598
$0 |
$10,305,721 |
| 13 |
$17,109,990 |
$6,291,027
$0 |
$10,818,963 |
| 14 |
$17,965,806 |
$6,607,679
$0 |
$11,358,127 |
| 15 |
$18,864,033 |
$6,940,023
$0 |
$11,924,010 |
| 16 |
$19,807,203 |
$7,288,995
$0 |
$12,518,208 |
| 17 |
$20,797,215 |
$7,655,300
$0 |
$13,141,915 |
| 18 |
$21,837,234 |
$8,040,107
$0 |
$13,797,127 |
| 19 |
$22,929,159 |
$8,444,119
$0 |
$14,485,040 |
| 20 |
$24,075,522 |
$8,868,274
$0 |
$15,207,248 |
| 21 |
$25,279,488 |
$9,313,741
$0 |
$15,965,747 |
| 22 |
$26,543,589 |
$9,781,458
$0 |
$16,762,131 |
| 23 |
$27,870,357 |
$10,272,362
$0 |
$17,597,995 |
| 24 |
$29,264,223 |
$10,788,093
$0 |
$18,476,130 |
| 25 |
$30,727,086 |
$11,329,352
$0 |
$19,397,734 |
| 26 |
$32,264,010 |
$11,898,014
$0 |
$20,365,996 |
| 27 |
$33,876,894 |
$12,494,781
$0 |
$21,382,113 |
| 28 |
$35,570,802 |
$13,121,527
$0 |
$22,449,275 |
| 29 |
$37,349,532 |
$13,779,657
$0 |
$23,569,875 |
| 30 |
$39,216,882 |
$14,470,577
$0 |
$24,746,305 |
|
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