The jackpot for the Powerball draw on Sat Aug 29, 2026, is projected to be $119 Million, with an option for a cash payout of $51.1 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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine Powerball Jackpot/Cash Option for Sat Aug 29, 2026 |
|---|
| Draw Date | Sat Aug 29, 2026 | | Projected Jackpot | $119,000,000 | | Cash Value | $51,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $51,100,000 | | Federal Tax(24%) | $12,264,000 | | Additional Federal Tax | $6,603,330 | | State Tax(5%) | $2,555,000 | | Net Lumpsum Payment | $29,677,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,791,069 |
$623,026
$89,553 |
$1,078,490 |
| 2 |
$1,880,676 |
$656,181
$94,034 |
$1,130,461 |
| 3 |
$1,974,686 |
$690,964
$98,734 |
$1,184,988 |
| 4 |
$2,073,456 |
$727,509
$103,673 |
$1,242,274 |
| 5 |
$2,177,105 |
$765,859
$108,855 |
$1,302,391 |
| 6 |
$2,285,990 |
$806,147
$114,300 |
$1,365,543 |
| 7 |
$2,400,230 |
$848,415
$120,012 |
$1,431,803 |
| 8 |
$2,520,301 |
$892,842
$126,015 |
$1,501,444 |
| 9 |
$2,646,322 |
$939,470
$132,316 |
$1,574,536 |
| 10 |
$2,778,650 |
$988,431
$138,933 |
$1,651,286 |
| 11 |
$2,917,523 |
$1,039,814
$145,876 |
$1,731,833 |
| 12 |
$3,063,417 |
$1,093,795
$153,171 |
$1,816,451 |
| 13 |
$3,216,570 |
$1,150,461
$160,829 |
$1,905,280 |
| 14 |
$3,377,458 |
$1,209,990
$168,873 |
$1,998,595 |
| 15 |
$3,546,319 |
$1,272,468
$177,316 |
$2,096,535 |
| 16 |
$3,723,629 |
$1,338,073
$186,181 |
$2,199,375 |
| 17 |
$3,909,745 |
$1,406,936
$195,487 |
$2,307,322 |
| 18 |
$4,105,262 |
$1,479,277
$205,263 |
$2,420,722 |
| 19 |
$4,310,537 |
$1,555,229
$215,527 |
$2,539,781 |
| 20 |
$4,526,046 |
$1,634,967
$226,302 |
$2,664,777 |
| 21 |
$4,752,384 |
$1,718,712
$237,619 |
$2,796,053 |
| 22 |
$4,990,027 |
$1,806,640
$249,501 |
$2,933,886 |
| 23 |
$5,239,451 |
$1,898,927
$261,973 |
$3,078,551 |
| 24 |
$5,501,489 |
$1,995,881
$275,074 |
$3,230,534 |
| 25 |
$5,776,498 |
$2,097,635
$288,825 |
$3,390,038 |
| 26 |
$6,065,430 |
$2,204,539
$303,272 |
$3,557,619 |
| 27 |
$6,368,642 |
$2,316,728
$318,432 |
$3,733,482 |
| 28 |
$6,687,086 |
$2,434,552
$334,354 |
$3,918,180 |
| 29 |
$7,021,476 |
$2,558,277
$351,074 |
$4,112,125 |
| 30 |
$7,372,526 |
$2,688,165
$368,626 |
$4,315,735 |
|
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