The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 Mon Feb 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(5.75%) | $1,690,500 | | Net Lumpsum Payment | $16,871,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$56,253 |
$599,755 |
| 2 |
$1,027,260 |
$340,417
$59,067 |
$627,776 |
| 3 |
$1,078,610 |
$359,416
$62,020 |
$657,174 |
| 4 |
$1,132,560 |
$379,378
$65,122 |
$688,060 |
| 5 |
$1,189,175 |
$400,325
$68,378 |
$720,472 |
| 6 |
$1,248,650 |
$422,331
$71,797 |
$754,522 |
| 7 |
$1,311,050 |
$445,419
$75,385 |
$790,246 |
| 8 |
$1,376,635 |
$469,685
$79,157 |
$827,793 |
| 9 |
$1,445,470 |
$495,154
$83,115 |
$867,201 |
| 10 |
$1,517,750 |
$521,898
$87,271 |
$908,581 |
| 11 |
$1,593,605 |
$549,964
$91,632 |
$952,009 |
| 12 |
$1,673,295 |
$579,450
$96,214 |
$997,631 |
| 13 |
$1,756,950 |
$610,402
$101,025 |
$1,045,523 |
| 14 |
$1,844,830 |
$642,917
$106,078 |
$1,095,835 |
| 15 |
$1,937,065 |
$677,044
$111,381 |
$1,148,640 |
| 16 |
$2,033,915 |
$712,879
$116,950 |
$1,204,086 |
| 17 |
$2,135,575 |
$750,493
$122,796 |
$1,262,286 |
| 18 |
$2,242,370 |
$790,007
$128,936 |
$1,323,427 |
| 19 |
$2,354,495 |
$831,494
$135,383 |
$1,387,618 |
| 20 |
$2,472,210 |
$875,048
$142,152 |
$1,455,010 |
| 21 |
$2,595,840 |
$920,791
$149,261 |
$1,525,788 |
| 22 |
$2,725,645 |
$968,819
$156,725 |
$1,600,101 |
| 23 |
$2,861,885 |
$1,019,228
$164,558 |
$1,678,099 |
| 24 |
$3,005,015 |
$1,072,186
$172,788 |
$1,760,041 |
| 25 |
$3,155,230 |
$1,127,765
$181,426 |
$1,846,039 |
| 26 |
$3,313,050 |
$1,186,159
$190,500 |
$1,936,391 |
| 27 |
$3,478,670 |
$1,247,438
$200,024 |
$2,031,208 |
| 28 |
$3,652,610 |
$1,311,796
$210,025 |
$2,130,789 |
| 29 |
$3,835,260 |
$1,379,377
$220,527 |
$2,235,356 |
| 30 |
$4,027,010 |
$1,450,324
$231,553 |
$2,345,133 |
|
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