The jackpot for the Powerball draw on Wed Jul 29, 2026, is projected to be $663 Million, with an option for a cash payout of $290.4 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia Powerball Jackpot/Cash Option for Wed Jul 29, 2026 |
|---|
| Draw Date | Wed Jul 29, 2026 | | Projected Jackpot | $663,000,000 | | Cash Value | $290,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $290,400,000 | | Federal Tax(24%) | $69,696,000 | | Additional Federal Tax | $37,712,330 | | State Tax(5.75%) | $16,698,000 | | Net Lumpsum Payment | $166,293,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,978,813 |
$3,652,491
$573,782 |
$5,752,540 |
| 2 |
$10,478,052 |
$3,837,210
$602,488 |
$6,038,354 |
| 3 |
$11,001,822 |
$4,031,005
$632,605 |
$6,338,212 |
| 4 |
$11,552,112 |
$4,234,612
$664,246 |
$6,653,254 |
| 5 |
$12,129,585 |
$4,448,277
$697,451 |
$6,983,857 |
| 6 |
$12,736,230 |
$4,672,735
$732,333 |
$7,331,162 |
| 7 |
$13,372,710 |
$4,908,233
$768,931 |
$7,695,546 |
| 8 |
$14,041,677 |
$5,155,751
$807,396 |
$8,078,530 |
| 9 |
$14,743,794 |
$5,415,534
$847,768 |
$8,480,492 |
| 10 |
$15,481,050 |
$5,688,319
$890,160 |
$8,902,571 |
| 11 |
$16,254,771 |
$5,974,596
$934,649 |
$9,345,526 |
| 12 |
$17,067,609 |
$6,275,346
$981,388 |
$9,810,875 |
| 13 |
$17,920,890 |
$6,591,060
$1,030,451 |
$10,299,379 |
| 14 |
$18,817,266 |
$6,922,719
$1,081,993 |
$10,812,554 |
| 15 |
$19,758,063 |
$7,270,814
$1,136,089 |
$11,351,160 |
| 16 |
$20,745,933 |
$7,636,326
$1,192,891 |
$11,916,716 |
| 17 |
$21,782,865 |
$8,019,990
$1,252,515 |
$12,510,360 |
| 18 |
$22,872,174 |
$8,423,035
$1,315,150 |
$13,133,989 |
| 19 |
$24,015,849 |
$8,846,195
$1,380,911 |
$13,788,743 |
| 20 |
$25,216,542 |
$9,290,451
$1,449,951 |
$14,476,140 |
| 21 |
$26,477,568 |
$9,757,031
$1,522,460 |
$15,198,077 |
| 22 |
$27,801,579 |
$10,246,915
$1,598,591 |
$15,956,073 |
| 23 |
$29,191,227 |
$10,761,084
$1,678,496 |
$16,751,647 |
| 24 |
$30,651,153 |
$11,301,257
$1,762,441 |
$17,587,455 |
| 25 |
$32,183,346 |
$11,868,168
$1,850,542 |
$18,464,636 |
| 26 |
$33,793,110 |
$12,463,781
$1,943,104 |
$19,386,225 |
| 27 |
$35,482,434 |
$13,088,831
$2,040,240 |
$20,353,363 |
| 28 |
$37,256,622 |
$13,745,281
$2,142,256 |
$21,369,085 |
| 29 |
$39,119,652 |
$14,434,602
$2,249,380 |
$22,435,670 |
| 30 |
$41,075,502 |
$15,158,266
$2,361,841 |
$23,555,395 |
|
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