The jackpot for the Powerball draw on Wed Oct 28, 2026, is projected to be $716 Million, with an option for a cash payout of $307.2 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia Powerball Jackpot/Cash Option for Wed Oct 28, 2026 |
|---|
| Draw Date | Wed Oct 28, 2026 | | Projected Jackpot | $716,000,000 | | Cash Value | $307,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $307,200,000 | | Federal Tax(24%) | $73,728,000 | | Additional Federal Tax | $39,896,330 | | State Tax(5.75%) | $17,664,000 | | Net Lumpsum Payment | $175,911,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,776,516 |
$3,947,641
$619,650 |
$6,209,225 |
| 2 |
$11,315,664 |
$4,147,126
$650,651 |
$6,517,887 |
| 3 |
$11,881,304 |
$4,356,413
$683,175 |
$6,841,716 |
| 4 |
$12,475,584 |
$4,576,296
$717,346 |
$7,181,942 |
| 5 |
$13,099,220 |
$4,807,042
$753,205 |
$7,538,973 |
| 6 |
$13,754,360 |
$5,049,444
$790,876 |
$7,914,040 |
| 7 |
$14,441,720 |
$5,303,767
$830,399 |
$8,307,554 |
| 8 |
$15,164,164 |
$5,571,071
$871,939 |
$8,721,154 |
| 9 |
$15,922,408 |
$5,851,621
$915,538 |
$9,155,249 |
| 10 |
$16,718,600 |
$6,146,212
$961,320 |
$9,611,068 |
| 11 |
$17,554,172 |
$6,455,374
$1,009,365 |
$10,089,433 |
| 12 |
$18,431,988 |
$6,780,166
$1,059,839 |
$10,591,983 |
| 13 |
$19,353,480 |
$7,121,118
$1,112,825 |
$11,119,537 |
| 14 |
$20,321,512 |
$7,479,290
$1,168,487 |
$11,673,735 |
| 15 |
$21,337,516 |
$7,855,211
$1,226,907 |
$12,255,398 |
| 16 |
$22,404,356 |
$8,249,942
$1,288,250 |
$12,866,164 |
| 17 |
$23,524,180 |
$8,664,277
$1,352,640 |
$13,507,263 |
| 18 |
$24,700,568 |
$9,099,541
$1,420,283 |
$14,180,744 |
| 19 |
$25,935,668 |
$9,556,528
$1,491,301 |
$14,887,839 |
| 20 |
$27,232,344 |
$10,036,298
$1,565,860 |
$15,630,186 |
| 21 |
$28,594,176 |
$10,540,176
$1,644,165 |
$16,409,835 |
| 22 |
$30,024,028 |
$11,069,221
$1,726,382 |
$17,228,425 |
| 23 |
$31,524,764 |
$11,624,493
$1,812,674 |
$18,087,597 |
| 24 |
$33,101,396 |
$12,207,847
$1,903,330 |
$18,990,219 |
| 25 |
$34,756,072 |
$12,820,077
$1,998,474 |
$19,937,521 |
| 26 |
$36,494,520 |
$13,463,303
$2,098,435 |
$20,932,782 |
| 27 |
$38,318,888 |
$14,138,319
$2,203,336 |
$21,977,233 |
| 28 |
$40,234,904 |
$14,847,245
$2,313,507 |
$23,074,152 |
| 29 |
$42,246,864 |
$15,591,670
$2,429,195 |
$24,225,999 |
| 30 |
$44,359,064 |
$16,373,184
$2,550,646 |
$25,435,234 |
|
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