The jackpot for the Powerball draw on Sat Mar 7, 2026, is projected to be $35 Million, with an option for a cash payout of $16.5 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina Powerball Jackpot/Cash Option for Sat Mar 7, 2026 |
|---|
| Draw Date | Sat Mar 7, 2026 | | Projected Jackpot | $35,000,000 | | Cash Value | $16,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $16,500,000 | | Federal Tax(24%) | $3,960,000 | | Additional Federal Tax | $2,105,330 | | State Tax(4.75%) | $783,750 | | Net Lumpsum Payment | $9,650,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$526,785 |
$155,241
$25,022 |
$346,522 |
| 2 |
$553,140 |
$164,992
$26,274 |
$361,874 |
| 3 |
$580,790 |
$175,223
$27,588 |
$377,979 |
| 4 |
$609,840 |
$185,971
$28,967 |
$394,902 |
| 5 |
$640,325 |
$197,251
$30,415 |
$412,659 |
| 6 |
$672,350 |
$209,100
$31,937 |
$431,313 |
| 7 |
$705,950 |
$221,532
$33,533 |
$450,885 |
| 8 |
$741,265 |
$234,598
$35,210 |
$471,457 |
| 9 |
$778,330 |
$248,312
$36,971 |
$493,047 |
| 10 |
$817,250 |
$262,713
$38,819 |
$515,718 |
| 11 |
$858,095 |
$277,826
$40,760 |
$539,509 |
| 12 |
$901,005 |
$293,702
$42,798 |
$564,505 |
| 13 |
$946,050 |
$310,369
$44,937 |
$590,744 |
| 14 |
$993,370 |
$327,877
$47,185 |
$618,308 |
| 15 |
$1,043,035 |
$346,253
$49,544 |
$647,238 |
| 16 |
$1,095,185 |
$365,549
$52,021 |
$677,615 |
| 17 |
$1,149,925 |
$385,803
$54,621 |
$709,501 |
| 18 |
$1,207,430 |
$407,079
$57,353 |
$742,998 |
| 19 |
$1,267,805 |
$429,418
$60,221 |
$778,166 |
| 20 |
$1,331,190 |
$452,871
$63,232 |
$815,087 |
| 21 |
$1,397,760 |
$477,502
$66,394 |
$853,864 |
| 22 |
$1,467,655 |
$503,363
$69,714 |
$894,578 |
| 23 |
$1,541,015 |
$530,506
$73,198 |
$937,311 |
| 24 |
$1,618,085 |
$559,022
$76,859 |
$982,204 |
| 25 |
$1,698,970 |
$588,949
$80,701 |
$1,029,320 |
| 26 |
$1,783,950 |
$620,392
$84,738 |
$1,078,820 |
| 27 |
$1,873,130 |
$653,388
$88,974 |
$1,130,768 |
| 28 |
$1,966,790 |
$688,043
$93,423 |
$1,185,324 |
| 29 |
$2,065,140 |
$724,432
$98,094 |
$1,242,614 |
| 30 |
$2,168,390 |
$762,635
$102,999 |
$1,302,756 |
|
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