The jackpot for the Powerball draw on Sat Jun 20, 2026, is projected to be $302 Million, with an option for a cash payout of $135.3 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 Jun 20, 2026 |
|---|
| Draw Date | Sat Jun 20, 2026 | | Projected Jackpot | $302,000,000 | | Cash Value | $135,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $135,300,000 | | Federal Tax(24%) | $32,472,000 | | Additional Federal Tax | $17,549,330 | | State Tax(3.15%) | $4,261,950 | | Net Lumpsum Payment | $81,016,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,545,402 |
$1,642,129
$143,180 |
$2,760,093 |
| 2 |
$4,772,808 |
$1,726,269
$150,343 |
$2,896,196 |
| 3 |
$5,011,388 |
$1,814,544
$157,859 |
$3,038,985 |
| 4 |
$5,262,048 |
$1,907,288
$165,755 |
$3,189,005 |
| 5 |
$5,525,090 |
$2,004,614
$174,040 |
$3,346,436 |
| 6 |
$5,801,420 |
$2,106,856
$182,745 |
$3,511,819 |
| 7 |
$6,091,340 |
$2,214,126
$191,877 |
$3,685,337 |
| 8 |
$6,396,058 |
$2,326,872
$201,476 |
$3,867,710 |
| 9 |
$6,715,876 |
$2,445,205
$211,550 |
$4,059,121 |
| 10 |
$7,051,700 |
$2,569,459
$222,129 |
$4,260,112 |
| 11 |
$7,404,134 |
$2,699,860
$233,230 |
$4,471,044 |
| 12 |
$7,774,386 |
$2,836,853
$244,893 |
$4,692,640 |
| 13 |
$8,163,060 |
$2,980,663
$257,136 |
$4,925,261 |
| 14 |
$8,571,364 |
$3,131,735
$269,998 |
$5,169,631 |
| 15 |
$8,999,902 |
$3,290,294
$283,497 |
$5,426,111 |
| 16 |
$9,449,882 |
$3,456,787
$297,671 |
$5,695,424 |
| 17 |
$9,922,210 |
$3,631,548
$312,550 |
$5,978,112 |
| 18 |
$10,418,396 |
$3,815,137
$328,179 |
$6,275,080 |
| 19 |
$10,939,346 |
$4,007,888
$344,589 |
$6,586,869 |
| 20 |
$11,486,268 |
$4,210,250
$361,817 |
$6,914,201 |
| 21 |
$12,060,672 |
$4,422,779
$379,911 |
$7,257,982 |
| 22 |
$12,663,766 |
$4,645,924
$398,909 |
$7,618,933 |
| 23 |
$13,296,758 |
$4,880,131
$418,848 |
$7,997,779 |
| 24 |
$13,961,762 |
$5,126,182
$439,796 |
$8,395,784 |
| 25 |
$14,659,684 |
$5,384,413
$461,780 |
$8,813,491 |
| 26 |
$15,392,940 |
$5,655,718
$484,878 |
$9,252,344 |
| 27 |
$16,162,436 |
$5,940,432
$509,117 |
$9,712,887 |
| 28 |
$16,970,588 |
$6,239,448
$534,574 |
$10,196,566 |
| 29 |
$17,819,208 |
$6,553,437
$561,305 |
$10,704,466 |
| 30 |
$18,710,108 |
$6,883,070
$589,368 |
$11,237,670 |
|
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