The jackpot for the Powerball draw on Sat Jan 3, 2026, is projected to be $64 Million, with an option for a cash payout of $29.5 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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho Powerball Jackpot/Cash Option for Sat Jan 3, 2026 |
|---|
| Draw Date | Sat Jan 3, 2026 | | Projected Jackpot | $64,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(5.8%) | $1,711,000 | | Net Lumpsum Payment | $16,913,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$55,869 |
$590,657 |
| 2 |
$1,011,456 |
$334,569
$58,664 |
$618,223 |
| 3 |
$1,062,016 |
$353,276
$61,597 |
$647,143 |
| 4 |
$1,115,136 |
$372,931
$64,678 |
$677,527 |
| 5 |
$1,170,880 |
$393,556
$67,911 |
$709,413 |
| 6 |
$1,229,440 |
$415,223
$71,308 |
$742,909 |
| 7 |
$1,290,880 |
$437,956
$74,871 |
$778,053 |
| 8 |
$1,355,456 |
$461,849
$78,616 |
$814,991 |
| 9 |
$1,423,232 |
$486,926
$82,547 |
$853,759 |
| 10 |
$1,494,400 |
$513,258
$86,675 |
$894,467 |
| 11 |
$1,569,088 |
$540,893
$91,007 |
$937,188 |
| 12 |
$1,647,552 |
$569,925
$95,558 |
$982,069 |
| 13 |
$1,729,920 |
$600,401
$100,335 |
$1,029,184 |
| 14 |
$1,816,448 |
$632,416
$105,354 |
$1,078,678 |
| 15 |
$1,907,264 |
$666,018
$110,621 |
$1,130,625 |
| 16 |
$2,002,624 |
$701,301
$116,152 |
$1,185,171 |
| 17 |
$2,102,720 |
$738,337
$121,958 |
$1,242,425 |
| 18 |
$2,207,872 |
$777,243
$128,057 |
$1,302,572 |
| 19 |
$2,318,272 |
$818,091
$134,460 |
$1,365,721 |
| 20 |
$2,434,176 |
$860,976
$141,182 |
$1,432,018 |
| 21 |
$2,555,904 |
$906,015
$148,242 |
$1,501,647 |
| 22 |
$2,683,712 |
$953,304
$155,655 |
$1,574,753 |
| 23 |
$2,817,856 |
$1,002,937
$163,436 |
$1,651,483 |
| 24 |
$2,958,784 |
$1,055,080
$171,609 |
$1,732,095 |
| 25 |
$3,106,688 |
$1,109,805
$180,188 |
$1,816,695 |
| 26 |
$3,262,080 |
$1,167,300
$189,201 |
$1,905,579 |
| 27 |
$3,425,152 |
$1,227,637
$198,659 |
$1,998,856 |
| 28 |
$3,596,416 |
$1,291,004
$208,592 |
$2,096,820 |
| 29 |
$3,776,256 |
$1,357,545
$219,023 |
$2,199,688 |
| 30 |
$3,965,056 |
$1,427,401
$229,973 |
$2,307,682 |
|
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