The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Mon Feb 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(8.82%) | $2,593,080 | | Net Lumpsum Payment | $15,968,590 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$86,287 |
$569,721 |
| 2 |
$1,027,260 |
$340,417
$90,604 |
$596,239 |
| 3 |
$1,078,610 |
$359,416
$95,133 |
$624,061 |
| 4 |
$1,132,560 |
$379,378
$99,892 |
$653,290 |
| 5 |
$1,189,175 |
$400,325
$104,885 |
$683,965 |
| 6 |
$1,248,650 |
$422,331
$110,131 |
$716,188 |
| 7 |
$1,311,050 |
$445,419
$115,635 |
$749,996 |
| 8 |
$1,376,635 |
$469,685
$121,419 |
$785,531 |
| 9 |
$1,445,470 |
$495,154
$127,490 |
$822,826 |
| 10 |
$1,517,750 |
$521,898
$133,866 |
$861,986 |
| 11 |
$1,593,605 |
$549,964
$140,556 |
$903,085 |
| 12 |
$1,673,295 |
$579,450
$147,585 |
$946,260 |
| 13 |
$1,756,950 |
$610,402
$154,963 |
$991,585 |
| 14 |
$1,844,830 |
$642,917
$162,714 |
$1,039,199 |
| 15 |
$1,937,065 |
$677,044
$170,849 |
$1,089,172 |
| 16 |
$2,033,915 |
$712,879
$179,391 |
$1,141,645 |
| 17 |
$2,135,575 |
$750,493
$188,358 |
$1,196,724 |
| 18 |
$2,242,370 |
$790,007
$197,777 |
$1,254,586 |
| 19 |
$2,354,495 |
$831,494
$207,666 |
$1,315,335 |
| 20 |
$2,472,210 |
$875,048
$218,049 |
$1,379,113 |
| 21 |
$2,595,840 |
$920,791
$228,953 |
$1,446,096 |
| 22 |
$2,725,645 |
$968,819
$240,402 |
$1,516,424 |
| 23 |
$2,861,885 |
$1,019,228
$252,418 |
$1,590,239 |
| 24 |
$3,005,015 |
$1,072,186
$265,042 |
$1,667,787 |
| 25 |
$3,155,230 |
$1,127,765
$278,291 |
$1,749,174 |
| 26 |
$3,313,050 |
$1,186,159
$292,211 |
$1,834,680 |
| 27 |
$3,478,670 |
$1,247,438
$306,819 |
$1,924,413 |
| 28 |
$3,652,610 |
$1,311,796
$322,160 |
$2,018,654 |
| 29 |
$3,835,260 |
$1,379,377
$338,270 |
$2,117,613 |
| 30 |
$4,027,010 |
$1,450,324
$355,182 |
$2,221,504 |
|
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