The jackpot for the Powerball draw on Wed Aug 12, 2026, is projected to be $975 Million, with an option for a cash payout of $422.3 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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
| Louisiana Powerball Jackpot/Cash Option for Wed Aug 12, 2026 |
|---|
| Draw Date | Wed Aug 12, 2026 | | Projected Jackpot | $975,000,000 | | Cash Value | $422,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $422,300,000 | | Federal Tax(24%) | $101,352,000 | | Additional Federal Tax | $54,859,330 | | State Tax(4.75%) | $20,059,250 | | Net Lumpsum Payment | $246,029,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,674,725 |
$5,389,979
$697,049 |
$8,587,697 |
| 2 |
$15,408,900 |
$5,661,623
$731,923 |
$9,015,354 |
| 3 |
$16,179,150 |
$5,946,616
$768,510 |
$9,464,024 |
| 4 |
$16,988,400 |
$6,246,038
$806,949 |
$9,935,413 |
| 5 |
$17,837,625 |
$6,560,252
$847,287 |
$10,430,086 |
| 6 |
$18,729,750 |
$6,890,338
$889,663 |
$10,949,749 |
| 7 |
$19,665,750 |
$7,236,658
$934,123 |
$11,494,969 |
| 8 |
$20,649,525 |
$7,600,655
$980,852 |
$12,068,018 |
| 9 |
$21,682,050 |
$7,982,689
$1,029,897 |
$12,669,464 |
| 10 |
$22,766,250 |
$8,383,843
$1,081,397 |
$13,301,010 |
| 11 |
$23,904,075 |
$8,804,838
$1,135,444 |
$13,963,793 |
| 12 |
$25,099,425 |
$9,247,118
$1,192,223 |
$14,660,084 |
| 13 |
$26,354,250 |
$9,711,403
$1,251,827 |
$15,391,020 |
| 14 |
$27,672,450 |
$10,199,137
$1,314,441 |
$16,158,872 |
| 15 |
$29,055,975 |
$10,711,041
$1,380,159 |
$16,964,775 |
| 16 |
$30,508,725 |
$11,248,559
$1,449,164 |
$17,811,002 |
| 17 |
$32,033,625 |
$11,812,772
$1,521,597 |
$18,699,256 |
| 18 |
$33,635,550 |
$12,405,484
$1,597,689 |
$19,632,377 |
| 19 |
$35,317,425 |
$13,027,778
$1,677,578 |
$20,612,069 |
| 20 |
$37,083,150 |
$13,681,096
$1,761,450 |
$21,640,604 |
| 21 |
$38,937,600 |
$14,367,242
$1,849,536 |
$22,720,822 |
| 22 |
$40,884,675 |
$15,087,660
$1,942,022 |
$23,854,993 |
| 23 |
$42,928,275 |
$15,843,792
$2,039,093 |
$25,045,390 |
| 24 |
$45,075,225 |
$16,638,164
$2,141,073 |
$26,295,988 |
| 25 |
$47,328,450 |
$17,471,857
$2,248,101 |
$27,608,492 |
| 26 |
$49,695,750 |
$18,347,758
$2,360,548 |
$28,987,444 |
| 27 |
$52,180,050 |
$19,266,949
$2,478,552 |
$30,434,549 |
| 28 |
$54,789,150 |
$20,232,316
$2,602,485 |
$31,954,349 |
| 29 |
$57,528,900 |
$21,246,023
$2,732,623 |
$33,550,254 |
| 30 |
$60,405,150 |
$22,310,236
$2,869,245 |
$35,225,669 |
|
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