The jackpot for the Powerball draw on Sat Mar 21, 2026, is projected to be $120 Million, with an option for a cash payout of $54.6 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Sat Mar 21, 2026 |
|---|
| Draw Date | Sat Mar 21, 2026 | | Projected Jackpot | $120,000,000 | | Cash Value | $54,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,600,000 | | Federal Tax(24%) | $13,104,000 | | Additional Federal Tax | $7,058,330 | | State Tax(3.15%) | $1,719,900 | | Net Lumpsum Payment | $32,717,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$56,893 |
$1,120,632 |
| 2 |
$1,896,480 |
$662,028
$59,739 |
$1,174,713 |
| 3 |
$1,991,280 |
$697,104
$62,725 |
$1,231,451 |
| 4 |
$2,090,880 |
$733,956
$65,863 |
$1,291,061 |
| 5 |
$2,195,400 |
$772,628
$69,155 |
$1,353,617 |
| 6 |
$2,305,200 |
$813,254
$72,614 |
$1,419,332 |
| 7 |
$2,420,400 |
$855,878
$76,243 |
$1,488,279 |
| 8 |
$2,541,480 |
$900,678
$80,057 |
$1,560,745 |
| 9 |
$2,668,560 |
$947,698
$84,060 |
$1,636,802 |
| 10 |
$2,802,000 |
$997,070
$88,263 |
$1,716,667 |
| 11 |
$2,942,040 |
$1,048,885
$92,674 |
$1,800,481 |
| 12 |
$3,089,160 |
$1,103,320
$97,309 |
$1,888,531 |
| 13 |
$3,243,600 |
$1,160,462
$102,173 |
$1,980,965 |
| 14 |
$3,405,840 |
$1,220,491
$107,284 |
$2,078,065 |
| 15 |
$3,576,120 |
$1,283,495
$112,648 |
$2,179,977 |
| 16 |
$3,754,920 |
$1,349,651
$118,280 |
$2,286,989 |
| 17 |
$3,942,600 |
$1,419,092
$124,192 |
$2,399,316 |
| 18 |
$4,139,760 |
$1,492,042
$130,402 |
$2,517,316 |
| 19 |
$4,346,760 |
$1,568,632
$136,923 |
$2,641,205 |
| 20 |
$4,564,080 |
$1,649,040
$143,769 |
$2,771,271 |
| 21 |
$4,792,320 |
$1,733,489
$150,958 |
$2,907,873 |
| 22 |
$5,031,960 |
$1,822,156
$158,507 |
$3,051,297 |
| 23 |
$5,283,480 |
$1,915,218
$166,430 |
$3,201,832 |
| 24 |
$5,547,720 |
$2,012,987
$174,753 |
$3,359,980 |
| 25 |
$5,825,040 |
$2,115,595
$183,489 |
$3,525,956 |
| 26 |
$6,116,400 |
$2,223,398
$192,667 |
$3,700,335 |
| 27 |
$6,422,160 |
$2,336,530
$202,298 |
$3,883,332 |
| 28 |
$6,743,280 |
$2,455,344
$212,413 |
$4,075,523 |
| 29 |
$7,080,480 |
$2,580,108
$223,035 |
$4,277,337 |
| 30 |
$7,434,480 |
$2,711,088
$234,186 |
$4,489,206 |
|
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