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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina 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(4.75%) | $6,426,750 | | Net Lumpsum Payment | $78,851,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,545,402 |
$1,642,129
$215,907 |
$2,687,366 |
| 2 |
$4,772,808 |
$1,726,269
$226,708 |
$2,819,831 |
| 3 |
$5,011,388 |
$1,814,544
$238,041 |
$2,958,803 |
| 4 |
$5,262,048 |
$1,907,288
$249,947 |
$3,104,813 |
| 5 |
$5,525,090 |
$2,004,614
$262,442 |
$3,258,034 |
| 6 |
$5,801,420 |
$2,106,856
$275,567 |
$3,418,997 |
| 7 |
$6,091,340 |
$2,214,126
$289,339 |
$3,587,875 |
| 8 |
$6,396,058 |
$2,326,872
$303,813 |
$3,765,373 |
| 9 |
$6,715,876 |
$2,445,205
$319,004 |
$3,951,667 |
| 10 |
$7,051,700 |
$2,569,459
$334,956 |
$4,147,285 |
| 11 |
$7,404,134 |
$2,699,860
$351,696 |
$4,352,578 |
| 12 |
$7,774,386 |
$2,836,853
$369,283 |
$4,568,250 |
| 13 |
$8,163,060 |
$2,980,663
$387,745 |
$4,794,652 |
| 14 |
$8,571,364 |
$3,131,735
$407,140 |
$5,032,489 |
| 15 |
$8,999,902 |
$3,290,294
$427,495 |
$5,282,113 |
| 16 |
$9,449,882 |
$3,456,787
$448,869 |
$5,544,226 |
| 17 |
$9,922,210 |
$3,631,548
$471,305 |
$5,819,357 |
| 18 |
$10,418,396 |
$3,815,137
$494,874 |
$6,108,385 |
| 19 |
$10,939,346 |
$4,007,888
$519,619 |
$6,411,839 |
| 20 |
$11,486,268 |
$4,210,250
$545,598 |
$6,730,420 |
| 21 |
$12,060,672 |
$4,422,779
$572,882 |
$7,065,011 |
| 22 |
$12,663,766 |
$4,645,924
$601,529 |
$7,416,313 |
| 23 |
$13,296,758 |
$4,880,131
$631,596 |
$7,785,031 |
| 24 |
$13,961,762 |
$5,126,182
$663,184 |
$8,172,396 |
| 25 |
$14,659,684 |
$5,384,413
$696,335 |
$8,578,936 |
| 26 |
$15,392,940 |
$5,655,718
$731,165 |
$9,006,057 |
| 27 |
$16,162,436 |
$5,940,432
$767,716 |
$9,454,288 |
| 28 |
$16,970,588 |
$6,239,448
$806,103 |
$9,925,037 |
| 29 |
$17,819,208 |
$6,553,437
$846,412 |
$10,419,359 |
| 30 |
$18,710,108 |
$6,883,070
$888,730 |
$10,938,308 |
|
|
